- XRP’s $1.38 support remains crucial as the latest rebound lacks confirmation of a completed corrective structure on the hourly chart.
- August liquidations show leverage was flushed during the sharp rally, while derivatives positioning remains vulnerable to volatility.
- A break above $1.445 could strengthen recovery, while losses below $1.38 may expose deeper retracement levels across the chart structure.
XRP market structure remains corrective after the sharp advance, with support under pressure and liquidation data showing how quickly leveraged positioning can shift as traders assess whether recovery can continue.
XRP Holds Above Critical Support
The hourly chart shows XRP recovering after its sharp advance toward $1.70. The rally began near $1.00 and developed with strong trading activity. However, the subsequent rejection created lower highs across the corrective phase.
More Crypto Online describes the move as a corrective pullback. The analysis places the main support zone between $1.10 and $1.38. The latest rebound remains a three-wave move without confirmed reversal evidence.
XRP as of writing, traded near $1.41, keeping price above the zone’s upper boundary. That position gives buyers an opportunity to defend the current recovery. Still, holding $1.38 alone does not confirm that the correction ended.
The chart also shows descending blue trendlines containing several recovery attempts. Price must escape this structure before the rebound gains stronger technical confirmation. Until then, sellers retain control over the broader corrective setup.
Fibonacci Levels Define The Next Moves
The $1.38 area is quite around 38.2% Fibonacci retracement. Deeper retracement levels appear around $1.293, $1.213, and $1.106. These levels may be relevant if selling pressure is once again below the support.
The initial resistance on the Fibonacci levels is at around $1.445. Additional resistance levels sit around $1.490, $1.536, and $1.604. Each level could challenge buyers if the rebound extends higher.
A sustained break above $1.445 would improve the short-term recovery structure. It could also weaken the immediate bearish pressure from descending resistance. However, confirmation would still require continued momentum above subsequent resistance levels.
Conversely, losing $1.38 would reopen the deeper retracement structure. The $1.29 region would then become an important downside reference. Further weakness could place $1.21 and $1.10 back into focus.
Liquidations Reveal Elevated Leverage Risk
The perpetual liquidation chart shows limited activity through much of March and May. Several larger liquidation clusters appeared during sharper moves in early June. Those episodes indicated increasing exposure to leveraged market swings.
The largest liquidation activity emerged around August 18–22. Large red bars appeared before an exceptionally tall green liquidation bar. The sequence coincided with XRP’s sharp upward price movement.
CoinMarketCap reported approximately $114 million in XRP perpetual liquidations. That figure represented the largest single-day XRP liquidation total then recorded. The event showed how quickly leverage can amplify an already strong directional move.
Afterward, liquidation activity declined while XRP remained around $1.40–$1.50. That suggests much of the vulnerable positioning had already been removed. Even so, remaining leverage leaves the market exposed to another sharp liquidation cycle.
