XRP wallets classified as millionaire addresses added more than 470 million tokens in the five days ending September 24, lifting their combined holdings from 12.37 billion to 12.80 billion, according to U.today, which cited the analytics platform Santiment. The absorbed supply was worth $724 million on the spot market. The orders clustered near a technical level rather than spreading across the price range, and the buying preceded a 27.6% rally that carried XRP from $1.25 to $1.58.
The pattern behind the move was an inverse head-and-shoulders formation on the daily timeframe, where the concentrated buying built the right shoulder. That setup closely tracks a wave of whale accumulation from about six weeks earlier. In August, roughly 460 million tokens were taken off the market in similar fashion, and XRP gained 40.7% over one week, reaching a local high of $1.70.
Also readXRP Jumps 40% in a Week to $1.31: What's Driving the Rally and Key Levels to Watch
Key facts
- Millionaire XRP wallets bought more than 470 million tokens in the five days ending September 24.
- Combined holdings rose from 12.37 billion to 12.80 billion XRP, a spot-market value of $724 million.
- XRP rallied 27.6% from a low of $1.25 to a local peak of $1.58 as the reversal pattern completed.
- August’s comparable whale wave totaled about 460 million tokens and preceded a 40.7% weekly gain to $1.70.
- The $1.60 neckline is the level carrying the heaviest historical trading volume.
$724 million ahead of the $1.60 gate
The asset now sits a few cents below the pattern’s neckline, the point where the technical setup would be confirmed. That zone is dense with prior trading activity, which is why the accumulation has drawn attention: large holders took liquidity out of the market before any breakout was official rather than chasing the move afterward.
If buyers push the price above $1.60 and it closes there, the pattern would activate and the projected target sits at $2.00, with short positions likely to unwind in the process. A pullback remains possible if speculators bank short-term gains, in which case the moving average cluster around $1.34-$1.37 becomes the next test for buyers. A third path would see XRP stay inside its established $1.25-$1.50 range, thinning the momentum behind the pattern.
Also readXRP Rich List Data Shows Top 50 Wallets Control Over 43% of Circulating Supply
Why it matters
The accumulation shifts the near-term balance of supply on the spot market. When a single cohort absorbs roughly 470 million tokens in five days, the float available to sellers at lower prices shrinks, and any fresh demand has to lift the offer rather than wait for cheap fills. That dynamic favors holders who bought near the pattern’s base, but it also raises the cost of being wrong if the neckline holds and the price rolls back into the range.
For ordinary traders, the practical difference between the August case and the present one is position size relative to the level. The dollar figure attached to this inflow is larger, while the August episode produced the more explosive weekly percentage gain. The comparison also cuts both ways: past whale waves have preceded fast advances, which is the basis of the current pattern, but they arrived alongside broader market conditions that may not repeat in the same form.
What to watch
The $1.60 level is the deciding reference for the medium-term trend through the end of autumn. A close above it would validate the reversal setup and open the path toward the $2.00 target, while a failure would leave the $1.34-$1.37 moving average zone and the wider $1.25-$1.50 range as the levels that matter. Macroeconomic developments are the external variable that could force a longer period of distribution inside that range. This is not financial advice; cryptocurrency markets are volatile and uncertain, and price targets may not be reached.
Source: U.Today
