TLDR
- XRP is currently priced at $1.52, marking a modest 1% increase over the last 24 hours while maintaining stability above the $1.50 support level.
- Trading volume surged to approximately $1.51 billion in 24 hours, representing a 33.70% jump compared to the previous session.
- On October 1, Ripple unlocked 1 billion XRP tokens from escrow, valued at roughly $1.49 billion at the time.
- Ripple participated in a Seoul conference with four Korean financial institutions, including Woori Bank and KBank, and announced XRP Asia.
- XRP open interest on Binance reached $516.6 million, though it remains significantly lower than October 2025 highs.
As of October 5, XRP is changing hands at $1.52, reflecting a gain of approximately 1% in the past 24 hours. The cryptocurrency has remained anchored near the $1.50 threshold across multiple trading sessions without breaking decisively in either direction.
Volume activity experienced a notable uptick during this timeframe. According to CoinGecko metrics, 24-hour trading volume reached approximately $1.51 billion, climbing 33.70% from the previous day’s figure.
Elevated volume without a corresponding price spike often indicates growing participant activity. However, it offers no guarantee about the next directional move.
Key support is currently positioned between $1.47 and $1.50. Market participants are monitoring whether this zone will continue to hold or if XRP will retreat toward $1.20.
Technical analyst Ali Charts posted an observation on X, highlighting that whale addresses have demonstrated limited activity throughout the past week. Large wallet holdings have remained relatively flat at around 3.9 billion tokens. The analyst observed that XRP is moving within a triangle consolidation pattern as price action approaches the pattern’s apex, typically a precursor to significant volatility. According to the analysis, a four-hour candle close above $1.53 could trigger momentum toward $1.62.
Escrow Release and Institutional Event
On October 1, Ripple executed its scheduled release of 1 billion XRP from escrow. The value of these tokens at release stood at approximately $1.49 billion.
This unlock is part of Ripple’s standard monthly protocol. The release itself does not indicate whether tokens entered circulation through sales or remained in reserve.
In a separate development, Ripple appeared at a Seoul gathering alongside four South Korean financial institutions. Woori Bank, KBank, and Kyobo Securities were confirmed participants, with the fourth institution identified as either Jeonbuk Bank or Kakao Bank.
During the event, Ripple unveiled XRP Asia, a new regional expansion effort. While the gathering demonstrates institutional engagement with Ripple’s infrastructure, it does not necessarily indicate direct XRP token acquisition or deployment by participating banks.
Longer-Term Chart Targets and Open Interest
Several analysts are examining extended time horizons. Crypto analyst Moustache identified a multi-year descending broadening wedge formation on XRP’s weekly timeframe, a pattern that has developed across nearly two years. A rally to $10 from present levels would represent an advance of approximately 560%.
However, not all observers anticipate an immediate surge. One market commentator estimates the probability of upward movement between 65% and 70%, noting that XRP’s RSI indicator remains positioned below the 50 threshold.
Experienced trader Peter Brandt has identified an emerging cup-and-handle formation on the chart, a technical configuration frequently associated with continuation to the upside.
Derivatives market data introduces a note of caution. According to CryptoQuant analytics, XRP open interest on Binance has expanded to $516.6 million. While this represents growth from 2026 lows in the $350 to $400 million range, it remains substantially beneath the $1.3 billion peak observed in October 2025.
The token’s price recovery has outpaced the return of open interest. Leveraged market participants have not yet restored their positions to the levels seen during last year’s activity peak.
