XRP traded near $1.41 after a 2.83% decline over 24 hours, driven by stronger U.S. employment data and heavy long liquidations. A report showing 162,000 new jobs and unemployment holding at 4.1% strengthened expectations for tighter monetary policy, pressuring risk assets.
During the sell-off, XRP briefly fell to $1.33, triggering approximately $14.82 million in liquidations. Long positions accounted for 95.8% of forced closures before the token recovered. Trading activity remained elevated, with Binance processing about $7.28 billion in XRP spot volume during August and Upbit recording roughly $4.68 billion.
Technical Resistance at $3.66
Analyst Ali Martinez identified $3.66 as a key resistance level that has capped XRP for nearly a decade. A monthly close above this barrier would confirm an ascending triangle breakout visible on the monthly chart. Martinez's analysis identifies potential stages near $9.49 and $15.60 if the structure continues, with longer-term extensions around $31.87 and $60.
In the near term, XRP must first reclaim $1.70, then clear potential targets around $1.90, $2.13, $2.80, and $3.40. The $1.30 area represents key support, with a broader zone from $1.10 to $1.38 below that.
ETF Inflows and Ecosystem Growth
U.S. spot XRP ETFs attracted $110.49 million during the week ending August 28, bringing cumulative net inflows to $1.66 billion. This demonstrates continued institutional demand despite short-term weakness.
Ripple USD (RLUSD) supply expanded 51% over the past 30 days to reach a record $2.4 billion, with $1.1 billion now on the XRP Ledger. Developers are testing a Lending Protocol and Single Asset Vaults on the XRP Ledger, features that could drive additional network activity.
Additional Considerations
Around 500 million XRP tokens left Binance during August, reflecting transfers that may indicate movement to self-custody, though lower exchange balances do not guarantee immediate price gains. A U.S. Senate cloture vote on the CLARITY Act is scheduled for September 15, 2026, and could influence regulatory outlook.
Short-term technical readings remain mixed, with some bearish interpretations treating recent rebounds as corrective moves rather than confirmed reversals. The daily chart shows XRP above its 200-day exponential moving average with support near $1.3093, and a bullish flag points to $1.6975 as the first major test.
