SEC Crypto Framework Fuels XRP Rally Past $1.24

XRP (XRP), one of the largest altcoins, surged in Wednesday's U.S. session after the Securities and Exchange Commission released its long-awaited Regulation Crypto Assets framework, a move that broke the token's summer lull and pushed it toward the $1.21–$1.23 supply zone. The U.S. Treasury also launched yield curve control, a policy that tends to weigh on the dollar, while a closed-door White House meeting with top industry executives, including Ripple's leadership, put real-world asset tokenization and the Clarity Act on the agenda. The daily candle cleared the 23-day SMA at $1.04 and the 50-day SMA at $1.07 before piercing the upper Bollinger Band near $1.13. On the weekly chart, resistance tightened into a cluster: the Bollinger Band midline sat at $1.2172, and the 200-week SMA at $1.2277 was intertwined with the 23-week average. Analysts viewed the $1.21–$1.23 range as a profit-taking zone where short-term buyers, spot holders breaking even after a year of waiting, and larger sellers converge. At the time, the daily RSI was above 71, making a chase at the top of the momentum move riskier. A weekly close above $1.2340 would confirm a trend reversal; failure keeps a pullback toward $1.07 and $1.00 on the table.

The technical setup, however, is far from unanimous. Analyst Dark Defender argues that the breakout completed a “triple dip” on the weekly XRP chart, opening Elliott Wave targets of $5.8563 and $9.0362, projections well above XRP's previous all-time high. Before those levels become reachable, the token needs to clear prior structural pivots near $1.20–$1.30, then $1.50 and $1.88. Holding the $1 handle is the pillar of the bullish count; a close back below it would invalidate the entire Wave 5 premise. Just over a week earlier, a competing Elliott Wave read of a similar price region projected a bottom near $0.95, a corrective bounce to $1.00–$1.04 and a final leg toward $0.85–$0.86. At that time, XRP was trading near $1.01 after a 2.5% daily drop tied to the Senate's failure to advance the Clarity Act before recess. The two counts start from nearly identical price action and reach opposite conclusions; the bear-market scenario keeps the medium-term outlook contested. Separately, on-chain data shows the London afternoon–New York morning window accounted for about 23% of XRP transfers, up from 14.3% a year earlier, with activity spanning order books, automated market maker pools and cross-currency payments; the ledger does not identify the wallets behind those moves.

Market structure data adds support. Exchange-held XRP supply has fallen from roughly 2.75 billion tokens in May to about 2.61 billion recently, a net withdrawal of around 140 million tokens, while the Chaikin Money Flow indicator has flipped positive to about 0.08, pointing to renewed buying pressure. Large-holder activity has also picked up: over the past two weeks, Coinbase withdrawals of more than one million XRP have accounted for a larger share of total outflows, and Binance has seen similar whale participation. Open interest, the total number of unsettled derivatives contracts, rose from about $770 million in early August to roughly $862 million, but it edged lower during the latest price spike. That pattern suggests short covering, rather than an influx of fresh leveraged longs, helped drive part of the rally. After breaking the downtrend that had capped prices since July's high, the breakout brought the $1.16–$1.18 supply zone into focus. A daily close above $1.25 would open a move toward $1.30–$1.40; rejection would put $1.10 and then $1.05 on the radar as support. Falling exchange balances and a positive money flow favor the bulls, but the derivatives data leave confirmation incomplete until open interest expands again alongside price.

With the spot price at $1.2428, COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $1.2146 support at 82/100, driven by the confluence of the flip from resistance to support, point-of-control volume and the Fibonacci 0.382 retracement; the $1.2493 resistance scores 78/100 on the Donchian Upper and Fibonacci 0.500. A second resistance at $1.3033 carries a 68/100 score, anchored by VWAP and Fibonacci 0.618. Perpetual futures funding rate stands at 0.0069%, open interest is about $801.9 million, and the long/short account ratio sits at 2.87, with 74.1% of accounts long. The Fear & Greed Index at 62/100 in Greed territory reinforces the crowded long side. The bullish scenario needs a sustained move above $1.3033; a decisive break below $1.2146 would invalidate it and shift the focus toward $1.1350. MACD is bullish, but RSI at 76.17 and the 2.87 long/short ratio argue for caution chasing strength.