- XRP Price Trades Near $1.40 Support as ETF Inflows Increase and Futures Trading Volumes Reach All-Time High Six Months Ahead of Today’s Voting.
- XRP Price Holds Above $1.35 Support as RSI Levels Off as Resistance Holds at $1.50 Ahead of Voting.
- XRP Price Tests $1.50 Resistance As ETF Inflows Surge to $18.96 Million and Futures Volume Increases Ahead.
XRP price is consolidating around $1.39-$1.40 after a sharp August breakout pushed the token from below $1.00 to above $1.60 and established a local peak near $1.65-$1.70.
In addition, United States spot XRP exchange traded funds witnessed net inflows of $18.96 million to bring total assets under management to $1.48 billion.
Futures trading volume also reached a six-month high, according to CryptoQuant, as large market participants increased their positions ahead of a September 15 Senate vote.
XRP Price Consolidates Above Key Support
The XRP price remains above several moving-average levels following the August breakout. The 20-day EMA is at $1.350, while the 200-day EMA is at $1.353. These levels form a support area around $1.35.
Additional technical support is located near $1.25 and $1.23. Another TradingView reading places a key moving-average support level at $1.2739. The price has remained above this level as the market trades sideways following the August advance.
Source: Trading View
On the daily XRP/USD chart, the token is also positioned near its 20-day simple moving average at $1.395. XRP was trading around $1.398, placing the current price close to this short-term technical reference.
Bollinger bands have expanded quite significantly owing to the current spike in the market. The upper band currently stands at $1.566, while the lower band stands at $1.223.
$1.50 Becomes the Immediate Resistance
The technical setup places several resistance levels above the current XRP price. The Auto Fibonacci Extension identifies $1.476 as the immediate 0.236 Fibonacci resistance. The next levels are $1.580 at the 0.382 extension and $1.664 at the 0.5 extension.
A separate technical reading identifies resistance near $1.697. The August price peak was recorded around $1.65, while the broader resistance level sits near $1.70.
The $1.50 area is also being monitored as the nearest local resistance. A move through that level would place XRP closer to the August highs based on the price levels provided.
The current consolidation follows a substantial move from below $1.00 to above $1.60. The sideways range between $1.34 and $1.48 has developed as XRP trades near $1.40.
Futures Volume Reaches Six-Month High
CryptoQuant data showed XRP futures trading volume reaching a six-month high at the end of summer. The increase followed a prolonged period of relatively subdued derivatives activity.
Source: Xaif Crypto
The futures market has also recorded increased participation from large players. Based on the available data, it can be seen that whales are adding to their positions, whereas Binance accounts for the largest portion of XRP futures liquidity in anticipation of the upcoming September 15 Senate vote.
The surge in derivative trading took place amid the growth in spot trading, as well as the inflow of funds into the U.S. spot XRP ETFs.
XRP ETFs Record $18.96 Million in Inflows
U.S. spot XRP ETFs recorded $18.96 million in net inflows, according to the information provided. The inflows lifted the combined assets under management of the funds to $1.48 billion.
The ETF flows occurred during the same period in which XRP maintained prices above its identified technical support levels. The combination of ETF inflows and higher futures activity marks a shift from the quieter trading conditions reported earlier in the year.
The spot market also recorded a major technical change during August when XRP broke above a prolonged downtrend that had remained in place since the beginning of the year.
RSI Cools as XRP Holds Above $1.39
XRP’s 14-day Relative Strength Index currently stands at 58.83, down from levels above 80 recorded during the earlier rally. The indicator remains above the neutral 50 level.
The current RSI value emerges while XRP is consolidation instead of continuation of its quick move from the breakout. Price trades near the mark of $1.39, whereas 20-day SMA holds the value of $1.395.
The key downside levels include $1.35, followed by $1.25 and $1.23. A significantly lower support level is identified at $0.985. Regarding the upside, $1.476 and $1.50 are the areas that are marked by the technical data.
FAQs
What is the current XRP price?
As for September 7, the current XRP price stands around $1.39-$1.40.
What is the most important support level for XRP?
The most important support area lies at the mark of $1.35, according to 20 EMA at $1.350 and 200 EMA at $1.353.
What is the immediate resistance for XRP?
The immediate resistance is near the mark of $1.476-$1.50, with the Auto Fibonacci 0.236 level of $1.476.
How many inflows into XRP ETF were registered?
U.S. spot XRP ETFs recorded $18.96 million in net inflows, taking combined AUM to $1.48 billion.
