- XRP faces major resistance near $1.60 after its recent sharp recovery.
- A confirmed inverse head-and-shoulders breakout could target $2.
- Binance XRP open interest is approaching its January yearly peak.
XRP traded near $1.52 on September 22 after reaching about $1.57 during the previous session. The XRP price prediction now centres on the $1.60 resistance zone. Ali Martinez identified an inverse head-and-shoulders structure with its neckline near that level. His setup places $2 in focus if XRP confirms the breakout. Whale accumulation and derivatives activity have also increased around the rally.
XRP Price Prediction Focuses on the $1.60 Breakout Level
The XRP price prediction gained attention after XRP rallied from around $1.25 toward $1.58. Martinez said the advance completed the right shoulder of the larger reversal structure. The neckline now sits around $1.60, making that area the next technical test.
A confirmed break above $1.60 could activate a measured target near $2. That move would represent roughly 25% upside from the neckline. However, the inverse head-and-shoulders pattern remains unconfirmed while XRP stays below resistance.
More Crypto Online identified support between $1.10 and $1.37 after XRP reacted near the $1.29 retracement. Short-term momentum remained positive following that recovery. The technical outlook therefore depends on XRP maintaining higher support while challenging $1.60.
XRP Price Prediction Gets Support From Rising Open Interest
Derivatives activity has strengthened as XRP recovered. Darkfost reported Binance XRP open interest approaching $600 million, near January’s $691 million yearly peak. The 180-day open-interest average stood near $445 million before the latest move above that level.
Funding rates were also positive at 0.0001%, according to the supplied derivatives data. Rising open interest alongside positive funding indicates greater long exposure in XRP futures. However, higher leverage can increase liquidation pressure during sudden price reversals.
Whale activity provides another factor behind the current setup. Martinez reported that large holders recently accumulated more than $2 billion worth of XRP. Separate reporting placed the accumulation near 1.54 billion XRP over 96 hours.
Daily RSI stood near 67.81 in the supplied technical data, placing momentum below the 70 overbought threshold. Immediate support sits around $1.45 to $1.50, while $1.60 remains the main resistance. The XRP price prediction gains stronger technical confirmation only after a decisive move above that neckline.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
