XRP recorded strong gains last week, with its price surging almost 48% from $1.0014 on August 19 to a weekly intraday high of $1.69. This rally pushed XRP’s total market capitalization above $91 billion, temporarily making it the fourth-largest cryptocurrency by market value.
Political momentum and market response
The upward move followed a White House meeting where US President Donald Trump hosted key leaders from the cryptocurrency industry, including Ripple CEO Brad Garlinghouse. Trump advocated for the passage of the CLARITY Act, a proposed law designed to outline regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for digital assets.
After reaching its weekly peak, XRP’s momentum faded. The token has since fallen by about 12%, closing the most recent trading day at $1.4554 and marking its second straight session of declines.
Technical analysis and whale activity
A market analyst described the recent price action as a correction following the sharp rally, noting that XRP faced resistance at $1.66. The analyst suggested a possible retracement into the $1.10 to $1.38 support zone, emphasizing that this would not undermine the broader bullish structure.
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AAPLIf this support holds, the analyst pointed to future price targets at $1.66, $1.93, and $2.25, should bullish momentum resume.
Large-scale holders withdrew 231 million XRP from Binance, marking the biggest single-token outflow from the exchange in six months. These substantial withdrawals are typically interpreted as long-term storage moves, rather than signals of imminent selling pressure.
CryptoQuant, a platform for tracking crypto market data, highlighted this withdrawal, and updates from Whale Insider described it as a rare event that captured the attention of traders.
Mini dictionary: CryptoQuant — A blockchain analytics firm that provides data on exchange flows, trading volumes, and on-chain activity, widely used by traders and analysts in the cryptocurrency industry.
| Event | XRP Volume | Timeframe | Exchange |
|---|---|---|---|
| Whale withdrawal | 231 million | 6-month record | Binance |
September 1: Scheduled token unlock
On September 1, Ripple will proceed with its routine monthly release of 1 billion XRP from its escrow account. Ripple, a San Francisco-based blockchain payments company, customarily locks up XRP in escrow to limit supply and releases a fixed amount each month. Historically, it has returned most of these tokens to escrow after each release, rather than injecting them all into the market.
As the next token unlock approaches, traders are monitoring liquidity levels, with notable zones of liquidation density reported near $1.55 and between $1.42 and $1.45. These price points have accumulated significant trading interest.
CLARITY Act and regulatory watch
The US Senate has scheduled a key vote on the CLARITY Act for September 15, following the current recess. If passed, the bill could affect the amount of XRP Ripple is permitted to release from escrow, especially to meet the liquidity needs for stablecoin operations and foreign currency trading pairs.
Additionally, the SEC has approved a registration filing for the Cryptex Digital Market Cap ETF, which includes an allocation of 4.88% to XRP, based on information filed by Ripple. This ETF structure may enhance retail and institutional access to XRP exposure.
XRP’s price action and the outcome of the upcoming token release and regulatory developments remain under close market scrutiny as September unfolds.
