XRP (XRP) Price: Rallies Near $1.54 Following Absa Custody Launch

TLDR

• XRP jumped 8.7% in 24 hours, trading near $1.54 after touching a high of $1.57.
• Veteran trader Peter Brandt shared a long-term chart pointing to an eventual advance to $5.40.
• Absa launched a Ripple-powered custody service in South Africa on September 21.
• The rally happened despite the Senate failing to pass cloture on the CLARITY Act.
• Analyst Ali Martinez says whale accumulation could push XRP to $1.60 in the short term.

XRP rose 8.7% over the past 24 hours, trading near $1.54. The token touched a high of $1.57 before pulling back slightly.

The move came as Bitcoin also rallied, hitting an eight-month high of $87,000. Broader crypto markets moved higher on the same day.

XRP traded between $1.41 and $1.57 during the session. That range covers about 11% from low to high.

Peter Brandt’s Chart Points to $5.40

Veteran trader Peter Brandt posted a long-term XRP chart on September 21. He wrote that the chart “implies an eventual advance to $5.40.”

Brandt was careful to separate a chart projection from an actual trade. He added that “a claim of a ‘call’ or simple presentation of a chart is NOT a trade,” and that proof requires records of entry, exit, and result.

Brandt entered commodity trading in 1976 and founded Factor Trading in 1980. He has written two books on chart patterns and trading.

From the current price of $1.54, XRP would need to rise about 251% to reach $5.40. Brandt’s chart frames this as a long-term target, not a near-term move.

XRP Price on CoinGecko

South African bank Absa launched a Ripple-powered custody service on September 21. The launch came 11 months after Ripple and Absa first announced their partnership.

Asset manager 21Shares pointed to regulatory clarity, institutional access, network utility, and fixed supply as reasons for XRP demand. The firm cited about $4 billion in tokenized assets on the XRP Ledger.

21Shares also noted around $1.6 billion in RLUSD stablecoin supply. More than half of that supply circulates on the XRP Ledger.

Whale Buying Fuels Short-Term Outlook

Analyst Ali Martinez said whales have accumulated more than $2 billion worth of XRP. He pointed to on-chain data showing that demand is now showing up in price.

“The URPD shows relatively little resistance ahead until $1.60, where roughly 2.50 billion XRP previously changed hands,” Martinez said. He added that $1.60 is the next level he is watching for possible profit-taking.

The rally happened despite a setback in Washington. The Senate failed to invoke cloture on the CLARITY Act in a 49-50 vote.

XRP was seen as one of the assets that could benefit most if the bill advanced, given its ties to Ripple. Ripple CEO Brad Garlinghouse said after the vote that the company has never been stronger.

Open interest in XRP has also climbed alongside the price move. XRP Ledger transaction activity has increased as more participants engage with the network.

Martinez’s $1.60 target remains the closest short-term level analysts are watching following the rally.

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