XRP has started September on a weaker note after closing August with a strong bullish candle, failing to sustain momentum above the $1.40–$1.45 resistance zone. The rejection there has pulled price into a consolidation phase.
XRP is trading near $1.36 at press time, down 5.77% on the week, though still up 26.77% on the month. Volume dropped more than 25% to $2.08 billion, a sign that the traders who drove August’s rally have largely stepped back.
Technical indicators show that XRP is currently experiencing short-term weakness within a larger bullish trend. Price has dipped below the Ichimoku Tenkan-sen, the faster-moving conversion line, a sign that near-term momentum is fading after the recent breakout. Lower highs have formed, with each attempt to push higher being sold off, and buyers pausing rather than pressing.
The broader structure hasn’t broken, however. XRP is still holding above the slower-moving Kijun-sen baseline and its major exponential moving averages (EMAs), both typically read as evidence that the larger trend remains bullish even as short-term momentum cools.
The level to watch now sits between $1.30 and $1.34, a zone where several technical supports line up. By holding this level, XRP has a reasonable shot at another run toward the resistance zone. On the other hand, a breakdown below this level would weaken the structure and shift the asset into a more extended corrective phase.
(adsbygoogle = window.adsbygoogle || []).push({});The derivatives market backs up the short-term caution. XRP saw $3.98 million in liquidations over the past 24 hours, with long positions accounting for $2.72 million of that total, a sign that traders betting on further upside were the ones forced out.
Open interest tells a similar story, slipping to $3.17 billion from August’s peak of $3.68 billion as fewer traders hold leveraged positions. Order book data shows bids near $8.19 million against $8.20 million in asks and a marginally negative delta that suggests sellers have a slight edge for now.
XRP appears to be entering consolidation with a mild bearish bias in the near term. Momentum has cooled, volume has thinned, and long traders are getting squeezed. Still, as long as price holds the $1.30 zone, the broader bullish structure from August’s rally stays intact.
