XRP Holds Above $1 Amid Death Cross and Whale Accumulation

XRP just eked out another day above $1 — but the charts are flashing caution Crypto markets are stuck in a slow grind, and XRP’s resilience is being tested. Bitcoin is down more than 3% this week, trading beneath $64,000, while Ether struggles around $1,900. Traditional markets are a different story: the S&P 500 and Nasdaq sit near recent highs after upbeat AI-related headlines (Bloomberg reported Anthropic posted $11.5 billion in quarterly revenue and is meeting banks about a possible IPO). Most large-cap tokens are relatively flat today, moving under 2% in either direction. XRP’s price action: a narrow win, for now XRP is up about 1.1% today, trading near $1.0046 after opening at $0.9935 and briefly dipping to $0.9882. That small bounce matters: XRP has closed above $1 every day since November 2024 — a streak that had reached 635 straight sessions as of last week. The line has come under pressure twice this month after a bridge exploit that drained roughly $200,000 through a connection between the TX Chain and the XRP Ledger pushed the token below $1 on August 11 and August 14; buyers returned before the daily closes both times. Technical picture: short-term weakness, longer-term split - Daily: The 50-day exponential moving average (EMA) has fallen below the 200-day EMA, forming a “death cross,” which signals the short-to-medium-term trend has been dominated by sellers. Daily Average Directional Index (ADX) sits at about 21.8 — under the common 25 threshold — suggesting the downtrend is real but not aggressively violent right now. - Weekly: The 50-week EMA remains above the 200-week EMA, so the broader “golden-cross” structure that supported the post-election rally is still intact. However, that gap has been narrowing for months and the weekly ADX reads 33.7 — a clear indication of a strong trend (and currently that trend is bearish for longs). Fibonacci and key levels - XRP has not reclaimed the shallowest retracement level at $1.0281. The so-called “golden zone” sits between $1.0754 and $1.0965, a meaningful upside target if bulls regain momentum. Further resistance is at $1.1264 (78.6% Fib). - Near-term support: this week’s low around $0.98. A deeper support near the $1 base is at $0.9061. Market structure and catalysts - Regulatory and legislative calendars are light for crypto this month. The U.S. Senate left for a five-week August recess without voting on the Clarity Act; the next plausible vote date is September 15. The SEC also pulled a planned vote on new fundraising rules for crypto startups, citing scheduling. - Institutional tone is mixed: Standard Chartered analyst Geoff Kendrick lowered his 2026 XRP target from $8 to $2.80 in Q1 2026 notes, reflecting a more bearish outlook from some bank strategists. - On-chain flows complicate the picture: whales reportedly accumulated roughly 380 million XRP near the $1 mark over the past week. At the same time, about $1.5 billion in leveraged long positions were opened — a setup where a break below $1 could trigger forced liquidations and accelerate a sell-off. Why this matters XRP’s long $1 streak has become a psychological support level. A clean close under $1 would be more than symbolic: with a death cross on the daily chart, rising weekly trend strength in the bearish direction, and crowded leverage, a breach could prompt faster downside. Conversely, reclaiming the $1.03–$1.10 zone would be an important step toward restoring bullish momentum. Levels to watch - Immediate resistance: $1.07–$1.09 (golden zone), then $1.1264. - Immediate support: $0.98 (this week’s low), then $0.9061. Disclaimer: This article is informational only and not financial, investment, or trading advice.