In Brief:

Large XRP holders increased their combined balances by approximately 430 million tokens over the five days ending September 24, according to Santiment figures cited in the analysis. Their holdings rose from 12.37 billion to 12.80 billion XRP as the cryptocurrency approached a key price level.

The increase coincided with XRP’s advance from around $1.25 to a local peak near $1.58. At the estimated prices used in the analysis, the additional holdings were valued at approximately $724 million.

However, the supplied account also claims that large holders added more than 470 million XRP. That total does not match the stated wallet balances, which show a difference of 430 million tokens. The available figures do not explain the discrepancy.

Wallet balances also cannot establish that holders bought every additional token on the spot market. Transfers between wallets could affect the measured holdings, while the data alone cannot reveal why individual holders moved their XRP.

Also Read: Alert: XRP Reserves on Binance Just Crushed 3-Month High – Here’s What it Means

XRP’s $1.60 Barrier Draws Attention as Large Wallet Balances Grow

The rise in large-wallet holdings has drawn attention to $1.60, a price area identified as the neckline of a possible inverse head-and-shoulders pattern. XRP’s climb from $1.25 to $1.58 brought it close to that level during the period covered by the analysis.

Under that chart interpretation, a sustained break above $1.60 could strengthen the case for a move toward $2.00. The target comes from the pattern’s projected height, however, rather than from the increase in wallet holdings.

XRP had briefly traded above $1.60 earlier in the week, reaching approximately $1.62. That move makes the distinction between crossing the level and holding above it particularly relevant.

Analysts have also compared the current accumulation figures with a period of large-holder buying in August. XRP subsequently gained more than 40% in a week and tested a local high near $1.70. Nevertheless, that earlier move does not establish what the latest change in holdings will mean for prices.

If XRP fails to hold above $1.60, the analysis identifies moving averages around $1.34 to $1.37 as a possible support area. A broader decline would bring the $1.25 to $1.50 trading range back into view.

Large holders’ rising balances provide one measure of positioning, while XRP’s response to $1.60 will offer clearer evidence of its price direction. The conflicting accumulation totals remain unresolved.

Also Read: XRP Ledger Adds 11,432 Accounts as XRP Retreats From $1.65