XRP Whales Pile In Ahead of Critical $1.60 Test

XRP is trading around $1.55 as it inches closer to the technical target of $1.60, a level that analysts say could trigger a 30% price surge.

Around $724 million worth of XRP has moved into large wallets in just five days, according to on-chain data reported by Benzinga, while earlier this month, 1.54 billion XRP was accumulated over a 96-hour window, valued at nearly $2.2 billion.

This buying activity is significant and doesn't happen by chance, especially considering it's happening right as XRP approaches the critical level of $1.60.

The chart pattern suggests that if confirmed, this could lead to a run towards $2, but there are concerns about the underwater holder base, which may be selling off their holdings at the $1.60 price point to break even.