XRP (XRP) price fell below $1.40 as triangular shape broke

TLDR

Key Support Points to Focus on
Whale Activity and On-Chain Data
XRP fell below the tightening triangle and fell to the US$1.34 - 1.37 range
Based on Camarilla Pivot data, US$1.31 is the first key support level
If it falls further, US$1.17 near the 100-cycle moving average will become the focus
According to Ali Martinez data, Whales have sold or transferred about 90 million XRP
Ripple's RLUSD stablecoin in the past week is targeting the US$13 trillion corporate treasury market

XRP price dynamics

This week, XRP prices fell back below $1.40 after falling below the tightening triangle pattern. The current trading range for this token is US$1.34 to US$1.37.

The decline followed a blocked rally in the $1.43 to $1.45 range. Analyst XAUApex at TradingView pointed out that XRP fell below the equilateral triangle pattern, marking a shift in the short-term structure, showing a decrease in highs and a decrease in lows.

However, this breakthrough in itself does not confirm a long-term downward trend. If we can return to the US$1.43 to US$1.45 range, the short argument will be weakened.

XRP has recently hit highs close to $1.70, but since then it has struggled to recover its loss of $1.40.

Key support levels to focus on

The US$1.31 region is the first support level that traders pay attention to. Camarilla Pivot data shows that the first support level (S1) is at $1.3143.

XRP's 30-cycle moving average is around $1.327 to $1.338, which is close to current prices. Analyst Vandell33 pointed out in his weekly chart that prices are compressed between the 50-week and 200-week moving averages, a pattern that has tended to break downward in similar patterns in the past.

If there is a deeper decline, US$1.17 will become the next observation target. This level is in line with the 100-cycle simple moving average (approximately $1.168).

Analyst Setupsfx outlining a recovery scenario centered on $1.1673. The analysis believes that only when a bullish rejection occurs at this position (that is, the price rebounds after hitting) and closes above this level in the next two days and forms a higher low, can any rebound be confirmed. The same analysis pointed out that if the price falls below US$0.9929, the recovery scenario will be cancelled.

Whale activity and network data

On-chain data provides background information for this trend. Analyst Ali Martinez said XRP fell from $1.70 to about $1.35 in the past three weeks, a drop of about 20%, as whales sold or transferred nearly 90 million tokens in the past week.

Another report citing the same data showed that the number of daily active addresses on XRP Ledger dropped by more than 90%, from approximately 388,000 to approximately 38,000.

About 2.29 billion tokens were previously traded around US$1.35, forming a huge historical transaction cluster.

TradingView's broader indicator summary shows a mixed picture. The 14-cycle RSI is near 53.6 with neutral readings, while momentum indicators and MACD send sell signals. Short-term moving averages are above prices and point downward, while 30, 50 and 100-cycle moving averages are below prices and point upward. The overall signal count is: 6 sell, 9 neutral, and 11 buy.

Recovering US$1.38 is seen as the first step in recovery, and on-chain analysis points out that if this position is held, it may look towards US$1.60 to US$1.68. Since then, Camarilla resistance levels have been around $1.445,$1.510 and $1.575 respectively, and the Fibonacci R1 level has been around $1.626.

Ripple stablecoins and regulatory environment

Ripple's stablecoin RLUSD is attracting independent attention as the company is targeting the corporate treasury market. According to Thinking Crypto host Tony Edward, the head of Ripple stablecoin pointed out that its customer base handles approximately US$13 trillion in transactions every year.

The U.S. Senate is scheduled to vote on the CLARITY Act, a bill related to the regulation of the cryptocurrency market, on September 15.

Currently, XRP is trading within a range, with US$1.31 and US$1.17 marked as the main support areas requiring attention.