XRP has experienced a significant surge recently, climbing 50% before hitting a resistance point and currently trading at approximately $1.44. The impressive rise saw the token briefly peak at $1.69 after opening the week at $1.0014, marking a nearly 48% increase at its highest point.
This rally followed a notable meeting at the White House, where President Trump engaged with leaders from the crypto industry, including Ripple CEO Brad Garlinghouse. During this meeting, Trump urged Congress to advance the CLARITY Act, which aims to clarify the regulatory landscape for digital assets by delineating oversight responsibilities between the SEC and the CFTC.
The surge propelled XRP’s market capitalization beyond $91 billion, temporarily placing it among the top four cryptocurrencies by market cap. However, since reaching its weekly high, the momentum has waned, with the token experiencing a pullback of around 12%. The latest daily close stood at $1.4554, reflecting a second consecutive day of decline.
Technical Analysis and Support Levels
An analyst has characterized the recent movements as a “pullback after a strong rally and rejection from the $1.66 resistance level.” It has been suggested that a retracement to the $1.10–$1.38 range could maintain the bullish sentiment in the market. Should this support hold, potential upward targets may include $1.66, $1.93, and even $2.25 in subsequent price movements.
Whales in the market have also been active, with reports indicating that 231 million XRP were withdrawn from Binance — marking the largest outflow in six months. Such large withdrawals are often interpreted as a signal that holders are moving their assets into cold storage rather than positioning them for immediate sale.
Focus on the September 1 Unlock
As the market watches closely, September 1 is set to bring about a significant escrow unlock of 1 billion XRP. Historically, Ripple has opted to re-escrow a considerable portion of each monthly release instead of flooding the market with new tokens.
On September 15, the U.S. Senate is expected to hold a crucial vote regarding the CLARITY Act. If the bill progresses, Ripple may consider releasing additional XRP from its escrow to bolster stablecoin and foreign exchange trading pairs.
In recent developments, the SEC has accepted a registration statement for the Cryptex Digital Market Cap ETF, which reportedly includes a 4.88% allocation to XRP, with information believed to be provided by Ripple.
As the market braces for the upcoming unlock, liquidation concentrations are observed near $1.55, as well as between $1.42 and $1.45, both critical levels traders are keenly monitoring.
