Overview
- XRP surged past $1.60 and hit session highs near $1.62–$1.66 before retreating to about $1.48–$1.50, leaving immediate support in that range and resistance back near $1.54–$1.66.
- The spike was driven by concentrated on-chain activity, with analytics recording roughly 1,917 transfers of $100k or more and about 3,647 new wallets entering the network during the move.
- Spot XRP ETFs recorded roughly $1.73 billion in cumulative inflows through Sept. 22, with managers such as Bitwise showing notable daily buying that helped fuel demand.
- Derivatives positioning jumped alongside the rally, with futures open interest spiking toward about $4.1 billion and large liquidations occurring, heightening the risk that leverage can amplify rapid reversals.
- Near-term catalysts and supply factors include Binance raising on-exchange XRP reserves to roughly 2.68 billion and launching an RLUSD holder rewards campaign on Sept. 25, plus an XRPL PermissionDelegation amendment that entered a 14-day activation window and could activate around Oct. 5 if validators maintain support; these elements will influence whether recent gains hold or give way to further selling.