XRP (XRP) Defends $1.34 Support After 7% Weekly Pullback

Corrective Structure Below $1.55

XRP (XRP) begins September in a corrective phase after August's explosive breakout from the $1 region ran out of steam. The rally that carried the token from roughly $0.98 to a $1.70 wick on Aug. 22 stalled inside the $1.45–$1.55 resistance band, and the long upper wick printed at $1.70 marked an unambiguous rejection of higher prices. The daily chart has since produced a sequence of lower highs and lower lows, with the token pulling back toward $1.37 and short-term momentum turning defensive. The first meaningful support lies at $1.27–$1.34, a zone reinforced by a rising daily moving average; a firm reaction there could set up another attempt at $1.45–$1.55. A daily close below $1.27, by contrast, would weaken the post-breakout structure and open the path toward the lower moving average near $1.15 and the broader $0.93–$0.97 demand area — the kind of extended slide that defines a bear market.

September Seasonality and ETF Flows

The calendar adds an unusual wrinkle to the seasonal picture. Data compiled by technical analyst Xaif Crypto shows XRP has closed September higher in five of eight years since 2018, averaging a 12.19% return for the month — a marked contrast with Bitcoin's habit of correcting ahead of September. Flows reinforce the case: U.S. spot XRP ETFs absorbed a record $110.49 million in weekly net inflows in the week ending Aug. 28, according to SoSoValue data, lifting net assets to $1.44 billion, with cumulative inflows near $1.66 billion and August's intake topping $153 million in August inflows. Goldman Sachs separately disclosed more than $86 million in XRP ETF positions in its latest 13F filing, the quarterly form U.S. institutional managers use to report holdings. Two dates now frame the near term: a Senate CLARITY Act vote set for Sept. 15, which would test the 60-vote threshold for the market-structure bill, and Ripple's scheduled release of 1 billion XRP from escrow on Sept. 1 — historically, 600–800 million of those tokens have been quickly returned to new escrow contracts.

$1.34 Is the Line to Hold

Spot trading in XRP changes hands near $1.37 at the time of writing, down roughly 7% over seven days from the $1.48 area. The 4-hour Supertrend remains bullish at $1.341, keeping active support just below price, though the Awesome Oscillator's histogram stays negative at -0.0364 — short-term bearish momentum has not fully cleared. The daily Chaikin Money Flow at 0.09 argues that net buying pressure persists across its 20-day window. Weekly timeframes add caution: chart analyst ChartNerd wrote in an Aug. 31 post that XRP failed to reclaim its 50-week exponential moving average near $1.53 for a second consecutive week, leaving the 20-week EMA around $1.27 as the next floor. Liquidity sits stacked on both sides — the liquidation heatmap shows dense clusters at $1.35 and $1.38, with larger overhead bands from $1.44 to $1.50 that could accelerate a rebound if shorts are forced to cover.

wrote in an Aug. 31 posthttps://x.com/ChartNerdTA/status/2094363293087310238

$3 Billion in Daily Volume

Trading activity swelled even as price slipped, with 24-hour volume reaching approximately $3 billion on Sunday against a circulating supply of about 62.74 billion tokens out of roughly 99.98 billion total. The divergence between record institutional demand and a falling price reflects, in our reading, profit-taking after a 30%-plus August run, whale portfolio rebalancing, and the unwind of leverage built through margin trading — roughly $48 million in XRP long positions were unwound in recent sessions — rather than any withdrawal of underlying demand. Futures data tells a similar story: aggregate open interest climbed to about $2.73 billion earlier in August, its highest since October, then fell alongside price, a combination that usually points to order types being closed rather than fresh aggressive shorts being opened. That deleveraging followed a stretch in which CME leveraged funds had doubled XRP net shorts, and it trimmed the leverage overhang even as it failed to push XRP back above $1.40 by month-end. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

COINOTAG Composite Puts $1.40 Wall at 85/100

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $1.3989 resistance at 85/100, driven by the confluence of a low-volume node, the Value Area High and the point of control; $1.5139 follows at 80/100 (Fibonacci 0.236, Ichimoku Tenkan). On the downside, the engine scores $1.2939 support at 63/100 (ATR lower band, Supertrend, EMA 20) and $1.1514 at 80/100 (Fibonacci 0.786). With spot at $1.3677, RSI at 61.41 and a bullish MACD inside a broader uptrend, the bias stays constructive while $1.2939 holds. Funding of 0.0004% is near neutral, open interest of $945.2 million sits far below the August peak, and the 2.60 long/short account ratio (72.2% long) reflects a crowded retail skew. Fear & Greed at 62 (Greed) supports risk appetite; a decisive 4-hour loss of $1.2939 would invalidate the bullish thesis and put the 80-scored $1.1514 floor in play.