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XRP (Ripple) has given back some of its recent gains and is taking a breather around the $1.50 mark, but analysis suggests that the mid-term uptrend is being maintained due to continued whale accumulation, inflow of funds into XRP spot ETFs, and network growth.
According to the investment media FXStreet on September 24 (local time), XRP showed a stable trend around $1.50 today after falling 4.56% yesterday. Despite the recent upward adjustment, the price remains within a broader upward trend, and Santiment data confirmed accumulation movements by some large holders. Whales holding 10 million to 100 million XRP and holders with 100,000 to 1 million XRP have accumulated a total of 350 million XRP since last Sunday, while holders with 1 million to 10 million XRP sold 50 million XRP.
Network growth has also been notable. Santiment's XRP network growth index, which tracks new user inflows and project expansion, surged to 12,608 on Wednesday, reaching its highest level since February 10. Institutional demand also continues. According to SoSoValue, XRP spot ETFs saw a net inflow of $18.04 million on Wednesday, following $20.02 million on Tuesday. The media analyzed that if these fund inflows continue and even expand in scale this week, it could support further upside for XRP.
However, there were also signs cautioning against short-term overheating. CryptoQuant data showed a sell-side dominance and signs of overheating in the XRP futures market, and despite the sharp price increase, not many individual investors were actively chasing it. While the spot market also showed signs of overheating, other indicators remained at neutral levels, suggesting that overall investor sentiment was cautiously tilted slightly bearish.
Technically, the uptrend is still dominant. XRP traded at $1.507 today, above its 50-day Exponential Moving Average (EMA) of $1.331, 100-day EMA of $1.284, and 200-day EMA of $1.361. The daily Relative Strength Index (RSI) was around 60, not entering the overbought zone, and the Moving Average Convergence Divergence (MACD) also remained above its signal line with a positive histogram, indicating that upward pressure remains.
In case of a decline, $1.506 was presented as the first support level, followed by $1.361, $1.331, and $1.300 as key defense lines. If the decline widens, it could extend to $1.284 and $1. In contrast, if the uptrend resumes, the next major resistance level is $1.900, and analysis suggests that strong momentum is needed to absorb potential profit-taking in this range for further upside.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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