XRP (CRYPTO: XRP) on SUnday posted its lowest weekly close in nearly two years, snapping the $1.04 support level that had held every week since November 2024.

What Happened To XRP’s Price Last Week?

Analyst Alex Marzell flagged on X that the $1.04 support shelf held every single week since November 2024 before finally giving way last week. 

Price is already trying to climb back above it, making $1.04 the line that matters most right now. 

Losing it cleanly on a weekly basis opens a drop toward $0.75, where the next meaningful support sits on the weekly chart.

Meanwhile, Polymarket currently puts a 65% chance of XRP falling below $1.00 before month-end.

Why The Clarity Act Delay Matters For XRP

The Clarity Act also missed its Senate vote before recess, removing one of XRP’s key narrative catalysts. 

Senate Majority Leader John Thune (R-SD) filed cloture on the motion to proceed, with a vote now scheduled for September 15 when the Senate returns. 

However, Grayscale said in a note cited by The Moon Show on X that Clarity Act passage odds have fallen significantly, warning the US risks losing crypto investment and developers to other countries.

Is There A Bullish Case Building For XRP?

Not every analyst is reading the chart bearishly. Ali Martinez laid out a five-part bull case on X over the weekend, built on two data points:

  1. A monthly buy signal: XRP’s monthly chart just triggered a Tom DeMark Sequential buy signal — the same setup that preceded a 1,074% rally following an April 2020 signal.
  2. Whale accumulation: Santiment data cited in the thread shows whale wallets added more than 380 million XRP over the past week, a sign of conviction near current prices.

Martinez points to $1.06 as the key resistance to flip, citing roughly 3 billion XRP that changed hands around that price on-chain. 

A monthly close above $1.06 would target $1.35 and potentially $1.64 after that.

XRP Price Prediction: Where Does It Go From Here?

XRP holds at $1.027 Monday, bouncing at the broken triangle’s apex with no volume conviction behind the move. 

The Parabolic SAR at $1.11 and all four EMAs stack overhead as resistance with nothing meaningful below except the $1 psychological floor.

Hold $1 and a relief bounce toward $1.06 becomes possible. Break it and the measured move to $0.85 becomes the active target.

Image: Shutterstock