XRP has posted a 1.51% gain in the past 24 hours, reaching $1.40 as it hovers above a key support level where 3.2 billion tokens exchanged hands. This support is attracting attention from analysts and traders following a significant price correction earlier this week.
XRP price movement and key support
Crypto analyst Ali observed that XRP is currently positioned near a substantial support zone after previously rallying 71.8% from $0.988 to a peak of $1.698. The surge was followed by a sharp 20% retracement, bringing the price to this important demand area.
Data from the URPD indicator shows approximately 3.2 billion XRP were traded in the $1.35 to $1.38 range, making this region vital for ongoing price stability. If this support remains intact, analysts point to resistance ahead, particularly between $1.60 and $1.86, as the next significant barrier for buyers.
XRP holders traded 3.2 billion tokens between $1.35 and $1.38, making this one of the most important support zones. If prices stay above this level, resistance is likely to emerge between $1.60 and $1.86.
Key resistance points include $1.60, where 1.99 billion XRP changed hands; $1.68, with 1.98 billion XRP previously traded; and $1.86, recording 3.47 billion XRP in volume. Clearing $1.86 could open the path to $2.19, marked by another 3.12 billion XRP in historic trading activity.
ETH
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AAPL| Price Level | XRP Volume Traded |
|---|---|
| $1.35–$1.38 (Support) | 3.2 billion |
| $1.60 (Resistance) | 1.99 billion |
| $1.68 (Resistance) | 1.98 billion |
| $1.86 (Resistance) | 3.47 billion |
| $2.19 (Potential Target) | 3.12 billion |
Market trends and derivatives activity
After climbing to $1.69 on August 22, XRP reversed course. This drop coincided with a jump in the estimated leverage ratio on the Binance exchange for XRP, reaching a seven-month high. The increased reliance on leverage reflected robust derivatives market activity, with traders opening larger positions amid heightened speculation.
This surge in leveraged trades led to more pronounced price swings for XRP, linking a substantial share of market activity to derivatives products.
Mini dictionary: Estimated leverage ratio — This measure indicates the proportion of open interest in derivatives trading relative to the coin’s circulating supply. A higher ratio suggests traders are increasingly using leverage, which can amplify both gains and losses and often results in greater price volatility.
XRP’s price remains down 6.51% over the past week, registering losses on four of the last six trading days. The 200-day moving average, currently standing at $1.27, is now being eyed as a potential support that could reinforce a shift towards renewed bullish momentum.
Network and regulatory developments
Recent on-chain data show the circulating supply on the XRP Ledger has edged above $1 billion, now at $1.04 billion according to Ripple’s stablecoin tracker. The XRP Ledger is a decentralized blockchain developed to enable fast and low-cost transactions for digital assets, particularly for cross-border payments.
Regulatory progress has also emerged for Evernorth, the XRP treasury management company. The Securities and Exchange Commission approved the company’s registration within the past week, leaving one final shareholder vote before listing on Nasdaq.
Meanwhile, Ripple launched its Delta One business as part of Ripple Prime, the global multi-asset prime brokerage platform. Ripple is a US-based technology company known for its enterprise blockchain solutions and its role in developing and supporting the XRP Ledger.
Ripple announced the launch of Delta One within Ripple Prime, expanding its suite of institutional trading services for global digital asset markets.
