XRP price is heading for a breakout this weekend as whales increase their risk levels.

Ripple (XRP) has temporarily cooled down but remains strong at the 3.00 USD mark on Saturday, following two consecutive days of stable increases. Attention from “whales”, strong demand from retail investors, and the optimistic wave surrounding the “Uptober” narrative have driven XRP to bounce back from the zone of the September lows around 2.70 USD.

If XRP can close above the short-term support level of 3.00 USD, the bullish outlook will be further strengthened, paving the way for an upward trend towards the record high of 3.66 USD set in mid-July.

XRP “whales” increase risks

In the past week, XRP whales have actively expanded their positions as the “risk-on” sentiment in the cryptocurrency market has noticeably improved. According to data from Santiment, wallets holding between 10 million and 100 million XRP now account for 12.27% of the total supply, a slight increase from 12.06% on September 25.

Not only that, the whale group holding between 100 million and 1 billion XRP has also started to increase their spot positions since Monday, raising their holding ratio to 14.6%, compared to 13.85% previously. This move reflects a deliberate increase in risk appetite, as investors anticipate a price breakout or have confidence in the sustainable development of the XRP ecosystem.

Distribution of XRP supply | Source: SantimentOn-chain activity on the XRP Ledger (XRPL) is also in line with the price increase. The data shows that the number of active addresses daily, interacting with the protocol by sending or receiving tokens, averaged around 49,000 on Thursday, a significant increase from 37,000 on Sunday. This is a signal that user interaction is stabilizing, while demand for XRP is increasing, setting the stage for potential price boosts.

Daily activity address of XRP | Source: SantimentAt the same time, retail investors are also flocking to XRP derivative products. The open interest index (OI) for futures contracts bounced back from a September low of 7.35 billion USD to an average of 8.47 billion USD on Saturday. Such a stable OI not only indicates a high level of active participation but also reflects confidence in the short-term uptrend potential of XRP.

Open futures contract for XRP | Source: CoinGlass## Technical outlook: XRP is forming a bullish structure

XRP is holding steady at key technical levels, including important short-term support at 3.00 USD and the downtrend line. A buy signal from the MACD indicator (Moving Average Convergence Divergence) appeared on Thursday, reinforcing the bullish outlook. As the green MACD line remains above the red signal line, traders tend to increase their positions, creating additional strong buying pressure.

The RSI index (Relative Strength Index) is stable at 57, after bouncing back from the zone of decline. The approach to the overbought zone of the RSI indicates that the bullish structure is becoming increasingly solid.

XRP/USDT daily chart | Source: TradingViewThe top areas of interest for traders include the short-term supply level of 3.18 USD, which was tested in mid-September; the medium-term resistance at 3.38 USD, tested in early August; and the all-time high of 3.66 USD.

In the event that investors take profits early, causing XRP to drop before the uptrend significantly extends above 3.00 USD, the important EMA lines will become temporary support points: the 50-day EMA at 2.94 USD, the 100-day EMA at 2.78 USD, and the 200-day EMA at 2.63 USD.

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