XRP slipped to around $1.35 on Thursday, registering a 3.24% decline and breaking below the closely watched $1.40 support. The move places the token in a critical range, as traders eye potential downside to $1.30 if support fails to hold, with any recovery hinging on a move back above $1.40.
Key support and resistance levels
Short-term price action remains focused between $1.30 and $1.50, with $1.40 acting as a pivotal level for both bulls and bears. A bounce above $1.40 could pave the way for further gains toward $1.45 and $1.50, while a sustained drop may increase selling pressure.
Market participants are also monitoring upcoming US inflation data, which could influence broader crypto sentiment and impact XRP’s trajectory.
| Level | Support/Resistance |
|---|---|
| $1.30 | Support |
| $1.35 | Current trading level |
| $1.40 | Key resistance/support |
| $1.45–$1.50 | Resistance |
Analyst Ali Martinez emphasized a longer-term scenario, suggesting that a monthly candle close above $3.66 could initiate a run to $60. This would require XRP to increase nearly 170% just to reach $3.66, and close to 4,000% to hit the analyst’s target.
Ali Martinez outlined that if XRP records a monthly close above $3.66, it could be “the catalyst for a $60 target,” breaking a historical pattern of failed breakouts.
Ripple CTO discusses XRP’s future
David Schwartz, Chief Technology Officer at Ripple, addressed prospects for XRP overtaking Bitcoin in total market capitalization during a discussion hosted by XRP Ledger validator operator Vet. Schwartz remarked that such a shift would not result from a decline in Bitcoin, but would require XRP to grow at a faster rate.
David Schwartz explained, “It wouldn’t happen from Bitcoin shrinking. It would happen from XRP growing faster than Bitcoin.”
Ripple is a San Francisco-based technology company specializing in real-time gross settlement systems and currency exchange software, driving the development and adoption of the XRP Ledger.
Schwartz credited the XRP Ledger’s transaction speed and functional versatility as potential growth drivers, but did not offer specific targets or a timeline for when such an event might take place.
Mini dictionary: XRP Ledger – A decentralized, open-source blockchain designed for rapid, low-cost transactions, facilitating payments and tokenization with its native asset XRP.
XRPL upgrade and lending protocol developments
Beyond price activity, the XRP Ledger is progressing toward a significant software upgrade. The network’s 3.4.0 iteration will introduce Lending Protocol v1.1, enhancing decentralized finance (DeFi) capabilities for participants.
Currently, the Lending Protocol amendment is in validator voting, with 31.43% of the vote in favor. The protocol requires at least 80% support before becoming active. The initiative aims to enable uncollateralized on-chain loans, drawing from pooled funds in a Single Asset Vault and employing off-chain underwriting based on the XLS-66 technical specification.
Mini dictionary: XLS-66 – A proposed standard for decentralized lending protocols on the XRP Ledger, specifying off-chain underwriting and process flows for uncollateralized loans.
Recent updates moved the codebase from version 3.4.0-b0 to 3.4.0-b1 following a merged pull request. However, these changes did not introduce new transaction types, amendments, or API methods.
Community engagement continues with an educational X Space scheduled by XRPL Operations, featuring speakers from the XRPL Foundation and RippleX, set for September 11 at 1 p.m. EST to discuss the upcoming lending protocol improvements.
