XRP is up 3.36% on October 2 to trade at $1.53, as whale wallets dominate exchange withdrawals on Binance and Coinbase. Open interest on Binance and Hyperliquid is also climbing, and the price has broken through a key resistance level.
Ripple's XRP is trading at $1.53 at the time of writing. The token is up 3.36% on October 2, a move that lines up with a surge in XRP withdrawn from exchanges by large holders.
Bitcoin is climbing too, having reclaimed $85,000 as the odds of a Fed rate hike in October continue to fall.
Whales Dominate Exchange Outflows
CryptoQuant analyst Amr Taha noted that whales holding more than 1 million XRP are dominating withdrawals on both Binance and Coinbase. On Binance, withdrawals of more than 1 million XRP increased from 45% in mid-August to 60.8% on September 20. Meanwhile, the 100K-to-1M XRP category dropped from 30% on September 6 to 23.4% on September 30.
On Coinbase, the 1M-plus XRP withdrawal share rose from 37% in late August to 48.7% on September 30. The whale activity comes alongside other developments. Evernorth recently received shareholder approval for a merger that will list the XRP treasury company on Nasdaq. Separately, XRP surpassed 10 million x402 AI agentic payments on its ledger.
Open Interest Surges on Binance and Hyperliquid
Data from CoinGlass shows XRP's open interest on Binance rose from $553 million on September 29 to $580 million. The same reading on Hyperliquid climbed from $284 million to $314 million over the same stretch, pointing to rising speculative demand.
On Binance, the long/short ratio stands at 2.31. XRP's funding rate has also climbed to 0.01%, the highest reading since September 23.
XRP Breaks Resistance, Bulls Eye $1.60
The four-hour chart shows XRP clearing the sell wall at $1.51 and a falling trendline resistance. An ADX line tipping north suggests the uptrend remains strong. If it continues, XRP could move up to collect liquidity at $1.56.
Bulls still have the edge: the RSI reading of 59 suggests bullish momentum remains dominant. Still, a failed retest of the $1.51 support could send the price down to test support at $1.48.
Source: CoinGape
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