XRP is testing a key support range of $1.35 to $1.38 after surging 71.8 percent and then entering a 20 percent correction. On Aug. 30, blockchain outlet U.Today reported that about 3.2 billion XRP traded in that range, making it one of the main demand zones.

Crypto analyst Ali said XRP is trading near a key support line. XRP rose about 71.8 percent from $0.988 to $1.698 before a 20 percent pullback, and it has now entered a phase of retesting price levels where large volumes have accumulated.

Based on the URPD indicator, about 3.2 billion XRP traded between $1.35 and $1.38. Ali described the area as one of the most important demand levels. As long as that support holds, the next resistance range is cited at $1.60 to $1.86.

More detailed resistance levels are also relatively clear. About 1.99 billion XRP traded at $1.60 and about 1.98 billion XRP at $1.68. At $1.86, about 3.47 billion XRP traded, creating heavier supply pressure. If XRP breaks above $1.86, it could open a further upside path toward $2.19, where about 3.12 billion XRP previously traded.

The recent correction also coincided with expanded leverage in derivatives markets. XRP rose to $1.69 on Aug. 22 before turning lower. During that period, Binance's estimated leverage ratio for XRP jumped to a seven-month high. Investors opened large positions in the derivatives market, and leverage-based trading grew as speculative activity increased. As a result, XRP price swings widened further.

Short-term supply and demand have not fully recovered. XRP is down 8.63 percent over the past 7 days and closed lower on 4 of the last 6 sessions. The market is also watching whether $1.27, the 200-day daily moving average, can turn into support as a condition for a further rebound.

Ripple business developments are also drawing attention. Circulating supply on the XRP Ledger, based on Ripple's stablecoin tracker, has exceeded 1 billion and stands at 1.04 billion. The U.S. Securities and Exchange Commission last week approved the registration of XRP treasury company Evernorth, leaving only 1 shareholder vote before a Nasdaq listing. Ripple also announced that week the launch of the Delta One business within Ripple Prime, a global multi-asset prime brokerage platform.

Against that backdrop, market attention is focused in the short term on whether the $1.35 to $1.38 support zone holds, and whether XRP can break back above resistance at $1.60 and $1.86.

XRP AT KEY SUPPORT After rallying 71.8% from $0.988 to $1.698, XRP has entered a 20% correction and is now testing a major support zone. According to the URPD, roughly 3.2 billion XRP were traded between $1.35 and $1.38, making this one of the most important demand levels. As… pic.twitter.com/i5r1tPsMJe