Will XRP (Ripple) Recover by the End of September?

• XRP-USD
• BTC-USD

Quick Read

• XRP sits 18% below its August high at $1.39, and whether it reaches $1.50 may depend on two events this week: a Senate cloture vote and a Fed rate decision.

• September has reversed August’s direction in 7 of the last 8 years, and stalled ETF inflows push the base case to a finish between $1.30 and $1.45.

• Goldman holds $87 million in XRP ETFs and Schwab now uses them as repo collateral, meaning institutional adoption has crossed from allocation into financial plumbing.

XRP (CRYPTO: XRP) trades near $1.27, down 13.8% in the past 24 hours and 25.3% below its August 22 high of $1.70. August was XRP’s best month since 2021, with a 28.5% gain, but September has wiped out most of that advance and pushed the decline even further. With 16 days left in the month, the outlook has deteriorated sharply in just 24 hours.

From $1.27, XRP needs an 18.1% gain to reach $1.50, 33.9% to reclaim $1.70, and 44.9% to return to its January 1 starting price at $1.84. Those levels are now much farther away, and whether XRP can recover will depend on two events over the next 48 hours.

Where XRP Stands With 16 Days Left

XRP has fallen below its 200-day MA at $1.355, putting it 6.3% below that level, and is now 2.7% below the 20-day EMA at $1.3055. The 50-day EMA at $1.2112 is the main support left, sitting 4.6% below the current price.

Above, XRP faces resistance at $1.40–$1.41, followed by $1.47–$1.52 and $1.66–$1.70. On the downside, $1.33 and $1.30 have already broken. The next support is $1.23, with $1.21 below it. The August 17 low of $0.9877 is now 28.6% away, compared with a 49% cushion before the sell-off.

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Derivatives had warned of a large move. Funding fell to negative 0.0094%, its lowest since June 28, while Bollinger Bands tightened to their narrowest range in 236 days. That compression has now resolved sharply to the downside.

The <a href="https://xpertsstudio.com/bitcoin-price-faces-54m-whale-short-before-clarity-act-vote/” title=”Bitcoin Price Faces $54M Whale Short Before Clarity Act Vote”>Clarity Act Just Added More Pressure to XRP

On Tuesday, September 15, the Senate blocked the cloture vote on the Clarity Act, falling short of the 60 votes needed to move the bill forward. Republicans had released a revised version on Sunday with new ethics restrictions aimed at addressing Democratic concerns over public officials profiting from crypto ventures, but the changes were not enough to overcome the remaining opposition.

Source: finance.yahoo.com