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XRP XRP prices stabilize in the US$1.40 to US$1.45 range, whale targets key support level of US$1.25
After a significant period of growth, XRP prices are currently stable in the US$1.40 to US$1.45 range. During previous trading sessions, the token briefly hit a high of $1.70. As market momentum pauses, the US$1.25 level is gradually emerging as a key turning point in the current market cycle.
Analysis of Key Support Levels and Technical Indicators
Technical analysis from TradingView and on-chain data from CryptoQuant indicate that the $1.25 price point is strategic for large holders (commonly known as the "whale"). This price coincides with the middle track of the Bollinger Band and is also based on the Fibonacci retracement 0.5 calculated based on the XRP surge from $1.00 to $1.70 in August. The resonance of these technical factors makes $1.25 the main support area on the weekly chart.
For some traders and analysts, a return to the $1.25 range is seen as a healthy correction, providing an opportunity for the market to consolidate earnings after reaching a local high near $1.70.
On-chain data shows that as XRP rose from US$1.00 to US$1.70, addresses holding between 1 million and 10 million XRPs increased their holdings by an additional 642 million tokens. This accumulation marks significant buying activity by major investors in the first phase.
Whale Accumulation Strategies and Exchange Dynamics
The latest data from CryptoQuant shows that as XRP prices approach recent local highs, XRP reserves on Binance have climbed rapidly to approximately 2.62 billion units. When XRP was trading at $1.45, the increase in exchange reserves suggested that some retail participants were taking profits at current prices.
Large investors may use this high exchange supply to launch the next round of purchases, aiming to accumulate XRP near the key $1.25 support level. Although supply has increased in the short term, broader trends point to a gradual shortage of supply on major exchanges. In the past year, Binance's XRP reserves have dropped from 3.1 billion coins to 2.6 billion coins, with major holders systematically withdrawing coins, limiting the freely circulating supply.
The upcoming U.S. Senate vote and its potential market impact
Market participants are now closely watching regulatory developments in the United States. On September 15, the U.S. Senate will hold a key procedural vote on the CLARITY Act. The legislation aims to clarify the legal status of digital assets and determine whether regulatory power lies with the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).
Expectations surrounding the vote are exacerbating volatility in the XRP market. Many large wallets appear to be strategically completing purchases at a critical turning point of $1.25 as regulatory decisions approach.
Noun explanation:
- CLARITY Act: A legislative proposal in the United States that aims to define the regulatory framework for digital assets and clarify whether regulatory power will be vested in the SEC or the CFTC.
As the whales prepare to enter the next accumulation stage near $1.25 and anticipate U.S. regulatory actions that may shape the digital asset landscape, the amount of XRP reserves on the coin has risen to 2.62 billion.
