XRP Whales Accumulate $2.2 Billion in Tokens Over 96 Hours

Whale Flows and Ledger Activity Pick Up

On-chain data shows XRP (XRP) whales absorbed roughly 1.54 billion tokens — about $2.2 billion at prevailing prices — across a 96-hour window, accumulation that coincided with the asset pushing up to $1.43 and a 3.51% gain over 24 hours at that reading. The broader market was supportive: total crypto capitalization added 1.5% to reach $2.79 trillion in the same stretch, with Bitcoin hovering near $81,000 and Ethereum climbing toward $2,600. Network activity echoed the demand. The XRP Ledger processed 2,344,225 transactions in a single day, an 8.9% increase from 24 hours earlier — evidence that asset movement and application usage on the XRP settlement asset's rails accelerated, though the surge needs to persist before it can be read as durable adoption. Not every whale flow points the same way, however. Deposits of 1.6 billion XRP into the Binance exchange reached their highest level since March 2026, a distribution signal our Binance whale inflows data confirms sits awkwardly next to the accumulation tally. Leverage also built faster than turnover: XRP contract trading volume rose 2.73% to $5.13 billion while open interest jumped 8.12% to $3.24 billion, meaning fresh speculative positioning outpaced simple churn. Traders now treat $1.45 as the first hurdle — a confirmed breakout opens $1.50 and, if momentum extends, $1.60. RSI sits near 65, below the overbought 70 threshold, while Chaikin Money Flow holds a positive 0.18. A rejection instead risks a slide toward $1.40, with the ascending channel's lower boundary near $1.36 as the deeper test.

Evernorth Lines Up $30 Million

Away from the tape, the XRP-focused treasury company Evernorth has secured an additional $30 million in financing — but the money arrives with strings attached. A fresh SEC filing shows the firm entered a note purchase agreement on September 11 with NH Investment & Securities, acting as trustee for Kyobo AIM Corporate Finance General Private Investment Trust No. 3 — a Korean institutional mandate putting capital behind Ripple's treasury strategy. The structure calls for $30 million of 4% convertible senior PIK notes due 2031, meaning interest obligations can be settled in additional securities rather than cash, easing near-term liquidity strain. The catch is explicit: issuance of the notes is conditional on the closing of Evernorth's previously announced business combination with Armada Acquisition Corp. II, a deal involving Pathfinder Digital Assets and Ripple Labs, with the two transactions expected to close concurrently. Evernorth targets Q4 completion, so the fresh $30 million rides entirely on the broader merger clearing. One regulatory hurdle is already behind it — the SEC declared the company's Form S-4 registration statement effective on August 27, moving the combination past registration review. What remains is shareholder approval, with Armada II holders expected to vote on the deal, plus customary closing conditions. The raise advances Evernorth's plan to become a publicly traded company that holds and actively manages XRP as a treasury asset. The firm has previously disclosed more than $1 billion in gross proceeds from strategic institutional backers, including Ripple itself, SBI Holdings, Pantera Capital, Kraken and Arrington Capital, as detailed in Evernorth's $30 million convertible note filing trail. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

$1.4255 Resistance Is the Line

The accumulation data has drawn further context from Santiment analytics shared by analyst Ali Martinez, whose supply distribution chart shows combined whale balances breaking out of a prolonged plateau and surging toward peak levels at 9.81 billion tokens. The buying is also being read through a technical lens: an inverse head and shoulders pattern is forming on the daily XRP/USD chart, with the right shoulder built on support near $1.33, price holding around $1.40 and the neckline resistance sitting at $1.55 — a level whose breakout would confirm the setup and open a path toward $2.00. Notably, on-chain trackers report that tokens are being rapidly withdrawn from exchanges into cold wallets for long-term holding, meaning the large Binance deposits are being fully absorbed rather than triggering sell pressure, which reduces the risk of abrupt sell-offs.

The accumulation wave has also revived a more ambitious price target on the supply side. Santiment's wallet-flow analysis, which tracks holder distribution shifts, indicates that large-balance wallets climbed steeply within just a few days, approaching their prior peak zones rather than merely breaking the earlier plateau — a pace that market commentary now frames as putting the $2.00 psychological level back on the agenda for XRP. The path there still runs through confirmation: a daily close above the $1.55 neckline would validate the bullish chart structure, per the same read. Near term, observers are watching the balance of exchange inflows versus outflows and whether demand from the 96-hour buying burst persists, since the durability of that accumulation is the key test for whether the $2 scenario stays live.

The accumulation picture has since collided with fresh regulatory turbulence. XRP slumped by more than 8% at one point after the CLARITY Act failed to advance in a US Senate cloture vote on September 15, dipping below $1.30 to mark a monthly low, while cumulative volume delta fell to negative 10.5 million — a depth suggesting the move exceeded routine profit-taking. The setback does not scrap the bill, however: oversight now rests more heavily with the SEC and CFTC, which are proceeding with crypto rules under existing authority. Ripple CEO Brad Garlinghouse stressed after the vote that the company's business momentum remains intact and that XRP's existing US legal footing was unaltered, with spot ETFs having drawn over $1.7 billion in less than a year.

Spot XRP ETFs delivered a fresh milestone even as the CLARITY Act setback rippled through the tape. The week's first trading day brought $11.26 million of net inflows, and the failed Senate vote produced no reportable outflows at all — SoSoValue printed $0.00 on Tuesday despite XRP's 8% slide — followed by another $3.50 million on Wednesday against the Fed's rate hike. The tide turned afterward, with $5.15 million withdrawn on Thursday and just $43,700 on Friday. Cumulative net inflows still touched a new all-time high of $1.720 billion mid-week before easing to $1.710 billion, leaving the funds with $9.56 million for the week and an unbroken green streak since early July.

(as of 03:05 UTC) COINOTAG's proprietary 42-indicator composite S/R scoring engine reads XRP at $1.4115, sitting just beneath a fortified ceiling: the $1.4255 resistance scores 91/100 on the confluence of a flip S→R level, Value Area High and POC. First support at $1.3676 carries a 99/100 rating from Pivot Point, VWAP and Bollinger Band confluence, with $1.2930 next at 77/100. RSI prints 56.11, MACD is bearish and the trend is sideways. On the derivatives side, funding of 0.0071%, $987.5 million in open interest and a 2.75 long/short account ratio (73.3% long) point to crowded long positioning, while the Fear and Greed Index at 71 (Greed) leaves little fear cushion. The bullish scenario needs a daily close above $1.4255 to open $1.4961 and $1.5472; losing $1.3676 invalidates the setup and puts $1.2930 back in play.