XRP Maintains 635-Day $1 Streak Amid Technical and Leverage Concerns

XRP has quietly clung to a remarkable run above $1, but the charts are flashing a cautionary note for bulls. Market snapshot - Crypto is treading water amid what many call an extended bear market. Bitcoin is down more than 3% this week and remains under $64,000, while Ether is wrestling to hold $1,900. Most top-10 tokens are moving less than 2% in either direction. - Traditional markets are bifurcated: the S&P 500 and Nasdaq are near recent highs, helped by renewed interest in AI stocks after Bloomberg reported Anthropic generated $11.5 billion in quarterly revenue and is meeting banks about a potential IPO. XRP: streak intact, but threads are fraying XRP is up about 1.1% today, trading near $1.0046 after opening at $0.9935 and hitting an intraday low around $0.9882. The more notable story: XRP has closed above $1 every day since November 2024 — a streak that stood at 635 sessions as of last week. That cushion has proven fragile; the token nearly slipped under $1 twice this month following a bridge exploit that siphoned roughly $200,000 through a connection between the TX Chain and the XRP Ledger (Aug. 11 and Aug. 14). Buyers stepped in both times before the daily close. Technical picture — mixed timeframe signals - Daily: XRP’s 50-day EMA has crossed below the 200-day EMA, forming a “death cross” that signals the short-to-medium-term trend is dominated by sellers. - Weekly: The longer-term structure still favors bulls — the 50-week EMA remains above the 200-week EMA — but that gap has been narrowing for months. - Trend strength: The weekly Average Directional Index (ADX) reads 33.7, indicating a strong trend (unfavorable for longs). The daily ADX sits at 21.8, below the common 25 threshold, suggesting the downtrend is real but not violently accelerating right now. Key price levels to watch - Immediate resistance: $1.07–$1.09 (the “golden zone”); a sustained move could target the 78.6% Fib at $1.1264. - Short-term resistance to reclaim: $1.0281 (shallow retracement). - Support: this week’s low near $0.98; stronger support around $0.9061, closer to the $1 base. Fund flows, leverage and macro/regulatory context - Whales have reportedly bought roughly 380 million XRP near the $1 mark over the past week, but that’s happening alongside approximately $1.5 billion in newly opened leveraged long positions. High leverage increases the risk of cascading liquidations if price breaks decisively below $1. - Regulatory calendar provides little immediate tailwind: the U.S. Senate left for a five-week August recess without voting on the Clarity Act; the next realistic vote is penciled in for Sept. 15. The SEC also delayed its vote on new fundraising rules for crypto startups, citing a scheduling issue. - Sentiment has shifted enough that Standard Chartered analyst Geoff Kendrick trimmed his 2026 XRP price target from $8 to $2.80 in Q1 2026. Bottom line XRP’s psychological $1 floor remains intact for now, and that matters to traders and holders. But the death cross on the daily chart, a rising weekly ADX, the proximity of leveraged longs, and a light regulatory calendar all argue for caution: the longer the shorter-term EMAs grind toward the longer-term averages, the higher the probability of a deeper correction if momentum turns. Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or other advice.