- XRP breaks from a descending trendline, confirming a bullish inverse head and shoulders pattern.
- Price tests upper range of bearish channel with eyes set on $4.804 technical target.
- Whales accumulate 510M XRP, adding over $1.54B in buying pressure since Sept. 30.
XRP is gaining strong bullish traction, breaking key resistance with heavy whale accumulation fueling momentum. Now trading at $3.04, up 10% this week, traders are eyeing the $4.804 target as a breakout rally looks increasingly likely.
Inverse Head and Shoulders Signals Breakout Momentum
XRP’s price action is turning heads as it breaks out from a prolonged downtrend. The breakout comes after the formation of a textbook inverse head and shoulders pattern, typically seen as a strong bullish reversal signal. With the neckline breached, the confirmation sets a higher price target near $4.804.
The breakout isn’t just on paper — momentum is clearly picking up. After a short pause, XRP pushed through key resistance, climbing past $3.09. According to analyst JavonTM1 on X, the $4.804 target is still “in play” as buyers regain control.
Volume has picked up alongside the breakout, though Relative Strength Index (RSI) data shows there’s still room before the asset becomes overbought. As XRP hovers near $3.10, traders are watching closely to see if it can hold this level — a crucial step before any sustained move higher.
Whale and Retail Accumulation Fuel Buying Pressure
Data from Santiment and Glassnode shows major players are doubling down on XRP. Between September 30 and October 3, large wallets holding 100M to 1B XRP added 510 million coins—worth around $1.54 billion—signaling strong confidence despite minor profit-taking.
Not just the whales — short-term holders have also jumped in.Glassnode’s HODL Waves reveal a sharp rise in short-term holding activity. The 24-hour cohort jumped from just 0.12% to 1.74% in a month, while 1–3 month holders grew from 10% to 11.83%—a clear sign of rising trader interest.
According to CoinMarketCap, XRP has posted a +462% gain over the past year, with its market cap now at $182.14B. Futures open interest sits near $8.66B, while daily trading volumes across platforms like Binance, OKX, and Bybit remain elevated.
Bearish Channel Faces Ultimate Test
Despite strong accumulation and bullish setups, XRP remains in a descending channel formed since early August. Every breakout attempt has been met with rejection — until now. With XRP testing the upper boundary near $3.10, a successful close above could finally mark the end of the multi-week bearish stretch.
