XRP Stuck Below $2 as Resistance Builds from $1.41 to $2.00
XRP's price continues to struggle, stuck below $2 despite a rally from $0.99 on August 18 to an intraday high of $1.66 before retracting to $1.46. The coin has dropped 8.25% in market cap to $79.75 billion and is down 30% year-to-date compared to Bitcoin's 13.4% loss and Ethereum's 19% decline.
About three-quarters of XRP's realized value was acquired above $2, leaving many holders waiting to break even. This has created six resistance rungs from $1.41 to $2.00, with each level representing a group of holders with different cost bases and potential selling pressure as XRP climbs.
The sole force absorbing the seller ladder is US spot XRP ETFs, which hold only 1.7% of supply. The CLARITY Act could have provided a catalyst by establishing clearer rules for the US crypto market, but its passage has been stalled in the Senate. Without it, XRP relies on time, ETF demand, and new buying pressure to work through the supply overhang.