XRP Reclaims $1 Support as Whale Transfers Jump 280% and Open Interest Rises

XRP has reclaimed the $1 support level after recent weakness, and market activity is increasing.

Data shows that transactions worth more than $1 million on the XRP Ledger increased by 280% in a 24-hour period, with over 38 such transfers recorded. This indicates heightened activity among high-value participants, although it does not confirm whether they are buying or selling.

The rise in large-value transactions coincides with an increase in Binance XRP futures open interest, which has reached approximately $461 million, up from around $360 million earlier in August. Higher open interest can accompany a rally if buyers gain control, but it can also precede a sharper decline when leveraged positions are forced to close.

XRP remains within a falling-wedge formation on the charts, and technical analysts believe that breaking above the descending trendline would be an important development. However, confirmation of a reversal would require a sustained move through resistance and a successful retest of the broken trendline.