XRP jumped 10.05% to $1.5424 on Monday, its sharpest one-day gain since August 21, as bitcoin climbed to an eight-month high and the wider crypto market recovered. Veteran trader Peter Brandt says his long-term chart points to a rally above $5, and whales have accumulated more than $2 billion worth of the token.
XRP was trading at $1.5424 by 21:38 GMT on Monday, up 10.05% on the day — its largest one-day percentage gain since August 21. The move pushed XRP's market cap up to $95.8925 billion, or 3.27% of the total cryptocurrency market cap. Over the previous twenty-four hours, XRP traded in a range of $1.4052 to $1.5424.
Bitcoin's eight-month high lifts the wider market
The rally came amid renewed optimism about the potential start of a new bull market, as bitcoin climbed to an eight-month high of $87,000. XRP itself climbed above $1.50, up over 8% according to TradingView data. Onchain activity accelerated alongside the move, with whales increasing their holdings and XRP Ledger transaction activity ticking higher.
Brandt says the chart points above $5
In an X post, Brandt shared a long-term XRP chart that he said implies the coin could rally to $5.40, with the target reachable by next year. The call comes despite a failed cloture vote on the CLARITY Act in the Senate, a crypto bill XRP was projected as one of the assets that could benefit most from given its ties to Ripple. Still, Ripple CEO Brad Garlinghouse said the company has never been stronger.
Whales buy the dip, eyeing $1.60
Crypto analyst Ali Martinez expects XRP could rally to $1.60 in the short term, pointing to whales that have accumulated more than $2 billion worth of the token as XRP rose 8.22% over three days. According to CoinGape, Martinez said the token faces "relatively little resistance ahead until $1.60", where roughly 2.50 billion XRP previously changed hands. He called $1.60 the next level to watch for potential profit-taking before a new setup emerges.
XRP remains 57.81% below its all-time high of $3.66, set on July 18, 2025, even after Monday's rally.
Sources: Investing.com, CoinGape
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