TLDR
- XRP broke below a tightening triangle pattern, falling to the $1.34–$1.37 range
- $1.31 is the first key support level, based on Camarilla pivot data
- A deeper drop could bring $1.17 into focus, near the 100-period moving average
- Whales sold or moved roughly 90 million XRP over the past week, per Ali Martinez
- Ripple’s RLUSD stablecoin is targeting a $13 trillion corporate treasury market
XRP price fell below $1.40 this week after breaking down from a tightening triangle pattern. The token now trades between $1.34 and $1.37.
The drop followed a rejection near $1.43 to $1.45. Analyst XAUApex on TradingView said XRP broke below a symmetrical triangle, calling it a shift in short-term structure with lower highs and lower lows.
The break does not confirm a longer downtrend on its own. A move back above $1.43 to $1.45 could weaken the bearish case.
XRP has fallen from a high near $1.70 reached in recent weeks. It has struggled to reclaim $1.40 since that peak.
Key Support Levels To Watch
The $1.31 area is the first support level traders are watching. Camarilla pivot data places S1 at $1.3143.
XRP’s 30-period moving averages sit near $1.327 to $1.338, close to the current price. Analyst vandell33 pointed to the weekly chart, noting price is squeezed between the 50-week and 200-week moving averages, a setup that has broken lower in past instances.
A deeper drop would bring $1.17 into view. That level lines up with the 100-period simple moving average near $1.168.
Analyst Setupsfx_ outlined a recovery scenario centered on $1.1673. The setup calls for a bullish rejection at that level, a two-day close above it, and a higher low before confirming any bounce. The same analysis lists $0.9929 as the point that would cancel the recovery idea.
Whale Activity And Network Data
On-chain data adds context to the move. Analyst Ali Martinez said XRP fell about 20% over three weeks, from $1.70 to around $1.35, as whales sold or moved close to 90 million tokens in the past week.
Daily active addresses on the XRP Ledger fell more than 90%, from about 388,000 to roughly 38,000, separate reporting citing the same data showed.
Around 2.29 billion tokens previously traded near the $1.35 level, creating a large cluster of past transactions.
TradingView’s broader indicator summary shows a mixed picture. The 14-period RSI sits near 53.6, a neutral reading, while momentum and MACD carry sell signals. Short-term moving averages sit above price and point down, while the 30-, 50-, and 100-period averages sit below price and point up. The overall count is 6 sell, 9 neutral, and 11 buy signals.
A reclaim of $1.38 is seen as a first step toward recovery, with on-chain analysis pointing to a possible move toward $1.60 to $1.68 if it holds. Beyond that, Camarilla resistance sits near $1.445, $1.510, and $1.575, with the Fibonacci R1 level near $1.626.
Ripple’s stablecoin RLUSD is drawing separate attention as the company targets corporate treasury markets. Ripple’s stablecoin chief has pointed to a customer base handling roughly $13 trillion in annual transactions, according to Thinking Crypto host Tony Edward.
The U.S. Senate is scheduled to vote on the CLARITY Act on September 15, a bill tied to crypto market regulation.
For now, XRP trades in a range, with $1.31 and $1.17 marked as the main support zones to watch.
The post XRP (XRP) Price: Falls Below $1.40 After Triangle Breakdown appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.