XRP climbed 8.7% in the past 24 hours, reaching $1.54 after a session high of $1.57. The rally came as Bitcoin hit an eight-month high of $87,000, lifting broader crypto markets across the board.
Analysts target $5.40 and $1.60 for XRP
During the session, XRP traded in a range from $1.41 to $1.57, spanning about 11% between its session low and peak. This movement drew renewed attention from technical analysts and market participants.
Veteran trader Peter Brandt posted a long-term chart for XRP, suggesting an eventual price target of $5.40. Brandt clarified that presenting such a chart does not constitute a formal trade recommendation. He emphasized that, “A claim of a ‘call’ or simple presentation of a chart is NOT a trade. People who claim ‘trades’ need to provide proof or else the claims are BS. An X post is NOT proof.”
Brandt projects that XRP could eventually reach $5.40, but frames this as a long-term forecast rather than a near-term move. He has distinguished between sharing chart analysis and providing trade signals.
Peter Brandt began his career in commodities trading in 1976 and founded Factor Trading in 1980. He is known for his expertise in classical charting techniques and has authored two books on trading and chart patterns.
A rise from the current $1.54 to $5.40 would represent a gain of about 251% for XRP. However, this projection is being considered within a long-term context.
Ripple partnership and fresh institutional interest
South African banking institution Absa has launched a Ripple-powered digital asset custody service. This rollout came 11 months after Absa first announced its partnership with Ripple, a blockchain company focused on facilitating cross-border payments and financial infrastructure around the world.
Asset management company 21Shares pointed to improving regulatory clarity, growing institutional access, network utility, and XRP’s fixed supply as factors supporting current demand for the token. The firm noted approximately $4 billion in tokenized assets now reside on the XRP Ledger.
Additionally, about $1.6 billion worth of RLUSD, a stablecoin backed by real assets, is currently in circulation, with more than half issued on the XRP Ledger.
Mini dictionary: Absa, a leading South African bank, has been increasing its engagement with digital assets, offering custody and settlement services through blockchain technology partnerships.
Whale accumulation and market sentiment
Cryptocurrency analyst Ali Martinez observed that large holders, often called “whales,” have accumulated over $2 billion worth of XRP. He referenced on-chain metrics showing increased demand translating into recent price gains.
Martinez stated that “the URPD shows relatively little resistance ahead until $1.60, where roughly 2.50 billion XRP previously changed hands,” indicating that $1.60 may act as the next target level and a potential area for profit-taking.
Despite the recent price rally, regulatory progress in the US has stalled. The Senate narrowly failed to pass a key vote on the CLARITY Act, which would have established clearer frameworks for digital assets.
XRP is widely considered likely to benefit if landmark crypto legislation advances, due to its association with Ripple and its global payments infrastructure. Ripple CEO Brad Garlinghouse responded after the Senate vote, saying the company remains in a strong position.
The latest rally has also been accompanied by a rise in open interest and increased transaction activity on the XRP Ledger, indicating heightened engagement by market participants.
Market watchers are closely monitoring the $1.60 level as the nearest short-term resistance for $XRP, according to Martinez and other analysts.
| Metric | Current Value | Next Key Level | Potential Long-Term Target |
|---|---|---|---|
| XRP Price | $1.54 | $1.60 | $5.40 |
| XRP Whale Accumulation | $2 billion | — | — |
