XRP climbed over 8% on September 22, pushing its market capitalization past the $100 billion threshold. This price movement was accompanied by a significant influx of capital into U.S. spot XRP ETFs and increased activity on the XRP Ledger.
The $12.47 million single-fund surge
According to CoinGlass data, U.S. spot XRP ETFs recorded $13.03 million in net inflows on September 22, a sharp rebound from the zero net inflows seen on September 21. However, the data reveals a highly concentrated movement: roughly $12.47 million of that total—or about 95.7%—was dirven by a single fund.
This level of concentration suggests that the current surge in institutional appetite may be heavily reliant on the actions of one specific market participant rather than a broad-based institutional shift. This sudden change in capital flow reflects a heightened sensitivity to regulated crypto products in the U.S. market, but it also introduces a layer of dependency on a single entity's trading strategy.
1,917 large-scale transactions and new wallet growth
On-chain metrics from Santiment indicate that the XRP Ledger saw significant movement from both large-scale holders and new users on Tuesday. The platform recorded 1,917 transactions worth at least $100,000,a figure typically associated with "whale" activity or institutional repositioning.
Alongside these large transfers, Santiment also reported the creation of 3,647 new XRP wallets. The combination of these metrics suggests a multi-layered market structure where institutional whales and retail participants are moving in tandem, providing a dual layer of support for the current price action.
Testing the $1.65 resistance and Peter Brandt's $5.40 target
While the recent 8% jump has reclaimed the $100 billion market cap milestone, XRP still faces a significant climb to reach its previous peaks.. The token is currently battling a resistance zone at $1.65, and it remains more than 55% below its all-time high achieved roughly a year ago.
Despite this gap, some analysts remain optimistic about the long-term trajectory. Legendary trader Peter Brandt has recently forecasted that XRP could eventually reach a target of $5.40, providing a bullish backdrop to the current attempt to break through local resistance levels.
Will the $1.65 resistance hold against single-fund volatility?
The primary question facing traders is whether the current momentum can survive the potential exit of the single fund driving the ETF inflows.. Because nearly 96% of the $13.03 million in daily inflows came from one source, the market remains vulnerable to sudden shifts in that fund's strategy.
Furthermore, it is still unverified whether the current on-chain activity will translate into sustained buying pressure or if the $1.65 resistance will act as a ceiling for the next phase of the market cycle. Until the resistance is decisively broken, the market remains in a state of heightened volatility.
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