Key Highlights
- XRP surged past $1.60, reaching an eight-month peak at $1.62.
- Total ETF inflows for XRP hit $1.73 billion by September 22.
- Futures open interest climbed to $4.1 billion, surpassing Hyperliquid and Zcash.
- Whale-level transactions and new wallet formations surged during the price rally.
- Four leading Canadian banks conducted XRP trials for international payment settlements.
XRP broke through the $1.60 barrier for the first time since early February, marking its highest level in eight months, data from Santiment reveals. The digital asset subsequently peaked at $1.62 during the same session.
Blockchain analytics tracked 1,917 XRP transfers valued at a minimum of $100,000 per transaction. This represented the most robust large-value movement recorded in approximately 30 days, according to Santiment’s analysis.
While these substantial transfers don’t definitively indicate accumulation strategies by major holders, they demonstrate significant repositioning activity among whales as prices climbed.
Network expansion also gained momentum. Data shows 3,647 newly created XRP wallets, signaling an influx of fresh market participants entering the ecosystem.
The XRPL infrastructure has witnessed considerable growth. Combined tokenized-asset holdings and RLUSD balances hit approximately $4.26 billion, while Ripple’s independent figures indicate roughly $2.4 billion of RLUSD currently in active circulation.
Exchange-Traded Fund Flows and Derivatives Trading Surge
According to SoSoValue tracking, aggregate net capital flowing into XRP exchange-traded products totaled $1.73 billion through September 22. That specific trading day saw $20.02 million in fresh inflows, with Bitwise contributing $19.16 million of that amount.
Flow patterns have shown variability. September 21 registered zero net movement, while September 18 experienced a $43.70 million withdrawal and September 17 saw $5.15 million exit. September 16 brought $3.50 million in positive inflows.
Bitwise submitted an amended XRP ETF registration document to the Securities and Exchange Commission on September 18.
In the derivatives market, XRP futures open interest surged to $4.1 billion within a 24-hour window, establishing a nine-month record. This positioning elevated XRP above both Hyperliquid and Zcash in terms of futures market depth, per Coinglass metrics.
Trading volume across derivatives platforms hit $9.4 billion, dramatically outpacing the $2.2 billion recorded in spot markets. CME futures open interest jumped more than 16% during the 24-hour period to reach $756 million. Binance futures open interest increased 10% to approach $700 million.
XRP generated over $17 billion in aggregate liquidations throughout the 24-hour span, trailing only Bitcoin and Ethereum. Short position closures totaled $9.50 million, highlighted by a single $5.09 million XRPUSDT liquidation event on Binance.
Technical analyst MikybullCrypto commented on the price movement via X, suggesting XRP might experience a 51% surge following its recent technical breakout.
Veteran trader Peter Brandt has issued an extended-timeframe projection. His analysis forecasts XRP potentially reaching $5.40, with chart patterns indicating a possible breach above $5 during the coming year.
Banking Sector Trials and Market Context
Four major Canadian financial institutions conducted XRP testing for international bank-to-bank payment transfers back in 2016. The participating institutions included Royal Bank of Canada, Bank of Montreal, CIBC, and Scotiabank.
Canada’s six largest banking institutions have subsequently collaborated on a tokenized-deposit initiative designed for blockchain-based transactions. The initial deployment facilitates tokenized Canadian dollar movement among the six banks, with subsequent phases planned to integrate additional digital asset infrastructures.
The underlying technology powering this collaborative platform remains unspecified, making it premature to characterize this as exclusive adoption of XRP by Canadian banks.
The wider cryptocurrency marketplace experienced simultaneous recovery. Trump’s announcement of an Iranian meeting during UN General Assembly proceedings provided positive sentiment that lifted Bitcoin, Ethereum, XRP, and numerous alternative cryptocurrencies.
XRP’s upward trajectory emerged following mid-September deleveraging connected to CLARITY Act voting activity, with valuations rebounding from $1.30 to the $1.62 peak.
