XRP closed around $1.35 after trading as high as $1.43 two sessions earlier. Analyst Ali Charts identifies a triangle between $1.31-$1.35 support and $1.38 resistance, the level XRP must clear to initiate a bullish move toward $1.60. More than 4.8 billion XRP were acquired in the $1.31-$1.38 zone, making this band a major demand area, while 1.99 billion XRP were purchased around $1.60. The nearly 40% rally between August 17 and August 31 was accompanied by a 16% drop in open interest, falling from 2.77 billion to 2.34 billion XRP, suggesting the advance was not driven by aggressive leverage. CME open interest, however, rose 36% to 387 million XRP, potentially indicating stronger participation from institutional traders.
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