XRP price advances towards $2.90 after the crash as whales and institutions bought the dip.
Institutional capital is flowing back into the crypto asset as Bitcoin faces the risk of slipping below $110K.
Amid the buy-the-dip sentiment, analysts predicted a stronger recovery to a new all-time high (ATH) as the consolidation is almost over.
XRP Price Correction Period Almost Near End
Since hitting $3.65 last month, XRP price has remained under selling pressure from whales and retail investors.
The corrective action nears completion, claimed crypto analyst Dark Defender on September 24.
He pointed out a falling wedge pattern formation in the daily timeframe, with the ABCDE pattern within the falling wedge nears completion for a breakout.
He predicted XRP price to reclaim $3.33 first. It will follow up with a new ATH based on the pattern height, with trend continuation fueling further upside momentum.
Crypto analysts such Ali Martinez and CrediBULL Crypto also predicted XRP price rally from $2.80 support.
Martinez highlighted that bulls will hold momentum above $2.80 and the buying pressure set the stage for a recovery to $3.60.
Meanwhile, CrediBULL Crypto highlighted that XRP is making a stronger recovery from this dip.
He suggested to keep an eye on support from higher trading volume to trigger a rebound in XRP price above $3.
Whales and Institutional Interest in Ripple Coin Reappear
As The Coin Republic reported earlier, Santiment data showed whales holding 1000-10,000 XRP bought the dip near $2.80.
Whales have rapidly sold part of their holdings in the last few weeks. Whales accumulated 30 million XRP in a day, supporting a rebound in the crypto asset after the recent crash.
Whale Alert reported that whales moved XRP worth billions between wallets amid a much-needed rebound.
Moreover, CoinShares data revealed that institutional interest in Ripple Coin (XRP) has doubled. XRP funds recorded $69.4 million in inflows in a week, rising from $32.5 million in the previous week.
At present, institutional investments and activities are leading the inflows, with the REX-Osprey XRP ETF launch one of the major catalysts.
CoinShares flows data also revealed that year-to-date (YTD) inflows increased to $1.51 billion, which boosted total assets under management (AuM) to $3.01 billion.
According to Glassnode, XRP is witnessing a rising open interest, signaling renewed leveraged engagement and growing appetite for directional exposure.
Meanwhile, the XRP Ledger has solidified its position as the trusted open-source settlement layer for global institutions.
Many developments, including programmability on smart contracts, will further boost the blockchain use cases and adoption.
Also, Ripple CEO Brad Garlinghouse shared that tokenized shares of BlackRock’s BUILD and VanEck’s VBill can now be redeemed at any time for RLUSD stablecoin.
Currently supported on the Ethereum network, the functionality will soon come to XRPL.
XRP Price Builds Upside Momentum
XRP price jumped 2% in the last 24 hours, trading at $2.88 at the time of writing. The 24-hour low and high were $2.80 and $2.89, respectively.
However, trading volume is still down by 18% ahead of an upcoming $23 billion crypto options expiry and the US Fed’s preferred PCE inflation data.
This indicated cautious trading in the spot market in the last 24 hours. CoinGlass data showed mixed sentiment in the derivatives market over the last few hours.
At the time of writing, the total XRP futures open interest was slightly up by 0.15% to $7.66 billion.
XRP futures open interest on CME and Binance surged more than 0.33% and 0.30% in the last 24 hours, respectively. This confirms a clear buy-the-dip sentiment among derivatives traders.