The XRP whale-retail spread has maintained the levels recorded in late July while the price now trades about 30% higher. XRP has risen roughly 30% since late July, with the token trading near $1.38.
The recent relief bounce from XRP may not have ended the current pullback, as its Elliott Wave structure calls for one more dip. Notably, the Elliott Wave theory on the 1-hour chart shows that the latest bounce has not yet formed the structure needed to confirm a lasting bottom.
XRP has entered another important phase after its August rally, with the weekly chart now indicating a possible cup-and-handle breakout. The structure suggests that the recent decline may represent a retest of this breakout.
Amid the ongoing pullback following the August rally, XRP must defend its current price level to maintain its bullish trend. XRP has reached an important point as it tries to hold on to its recent recovery.
XRP may be facing some whale transfer risk as large holders move more tokens to Binance without making similar transfers out. The latest data shows that whales moved more than 3 million XRP to Binance on Sept.
XRP has pulled back from the $1.69 high reached during its August rally, but its 4-hour chart still shows a bullish Break of Structure (BoS). Notably, XRP rose 71.8% from $0.988 to $1.698 in August before the current pullback began.
XRP funding rates on Binance have moved below zero to negative territory as leverage unwinds in the derivatives market. XRP's derivatives market recently saw an important change when the Binance XRP funding rate fell to -0.002.
The XRP CVD Confirmation Score on Binance indicates that the spot market remains healthy despite the recent pullback from XRP's August rally. Specifically, the CVD Confirmation Score has moved into positive territory, suggesting that XRP's price movement still has a reasonable link with activity in the spot market.
Historical data suggests that while XRP could build on the August rally against Bitcoin in September, the asset may face a drawdown in October. XRP has continued to lag behind Bitcoin, despite briefly gaining the upper hand during the market's rebound two weeks ago.
XRP futures trading activity has witnessed a sudden crash as the cryptocurrency pulls back from the $1.70 high it reached two weeks ago. Recent market data shows that traders have started cutting their exposure to leveraged positions, causing futures volume to drop significantly while XRP's price has held up relatively well.
The XRP AVWAP indicator has recently gone flat after a recent surge, which could have significant implications for XRP's next price direction. XRP had one of its strongest monthly performances in years in August 2026.
Amid the ongoing price correction, the XRP perpetual CVD has collapsed to -$882 million alongside declining Open Interest in the derivatives market. After rising to $1.69 during the rally two weeks ago, XRP hit resistance along with the broader crypto market and started to pull back.
XRP now sits at a major crossroads after its latest rally, and multiple factors could determine its next direction from here. After rising to nearly $1.70 two weeks ago, XRP met resistance at that level and has continued to pull back.
While XRP has recovered from the $1.02 area where it traded for some time, new derivatives data suggests that buyers have not yet entered full FOMO mode. XRP recently climbed from around $1.00 to nearly $1.70 before pulling back to the current price of $1.36.
According to recent on-chain data, the XRP Sharpe Ratio on Binance, the world's largest crypto exchange, has risen to a 1-year peak. While XRP has pulled back from the $1.69 three-month high it reached during the rally two weeks ago, on-chain data shows that its risk-adjusted performance has improved.
XRP has the potential to rally toward a two-digit price target, but it may first need to correct further to retest support at the 300WMA. After rising to a three-month high of $1.69 two weeks ago, XRP ran into resistance at this level and started to pull back.
XRP is up 37% in August, on track to record its best-performing month of 2026, but history shows September could bring higher gains. XRP recorded its strongest rally of 2026 last week after a weak start to the month.
Historical market data suggests XRP may still have room to decline further before eventually finding its bottom for this cycle. XRP made an impressive recovery last week, climbing to $1.69 before sellers stepped in and pushed the price back down.
The XRP ecosystem has reached a new milestone, with its total stablecoin value surpassing $1 billion for the first time since the XRP Ledger (XRPL) launched. This increase comes as the XRP ecosystem benefits from growing interest in tokenization.
XRP has cleared liquidity around its most immediate resistance, now dropping to a support level that may determine its next direction. XRP climbed to $1.69 last week but met strong resistance around that level and later pulled back toward $1.40.
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