XRP price breaks falling channel as bulls target $1.53

XRP (XRP) was trading around $1.45 on September 4 after breaking out of a descending 4‑hour channel that had guided the market lower since August 22. The breakout followed a rebound from support near $1.33 and a brief rally to about $1.47.

Technical outlook

The 4‑hour chart shows price above the upper boundary of the former channel, with the Awesome Oscillator remaining positive (0.0669) and the Average Directional Index at 26.88, indicating a developing trend. Daily momentum is strong, with the 14‑day RSI at 66.22, below the overbought threshold of 70.

Key resistance levels

• $1.48‑$1.50 – immediate barrier where XRP previously struggled after the August surge.
• $1.53 – aligns with the 50‑week exponential moving average identified by analyst ChartNerd.
• $1.70 – August high that would need to be retested for further upside.
• $1.80 – longer‑term target mentioned by ChartNerd if the 50‑week EMA is convincingly broken.

Support zones

• $1.43 – large liquidation cluster just below the current price.
• $1.37 – former 4‑hour channel resistance; a break below could reopen the channel’s lower range.
• $1.24‑$1.28 – broader structural support indicated by the daily Supertrend and the 20‑week EMA.

Liquidity and liquidation landscape

CoinGlass heatmaps show concentrated leveraged positions around $1.425‑$1.435 (below price) and $1.48‑$1.53 (above price). A move into the upper zone could force short sellers to cover, adding buying pressure.

Potential price targets

Trader CW notes that XRP has recovered above the 0.618 Fibonacci retracement and projects a 1.618 extension near $2.14, contingent on clearing nearer barriers at $1.50, $1.53, $1.70 and $1.80.

External catalysts

US‑listed spot XRP ETFs recorded $110.49 million in net inflows for the week ending August 28, contributing to cumulative inflows of roughly $1.6 billion. Market participants are also watching the Senate’s September 15 procedural vote on the CLARITY Act, which could affect regulatory oversight of digital assets. Additionally, Federal Reserve commentary on inflation and upcoming policy meetings may influence overall crypto liquidity.

Outlook

The breakout supports a bullish bias above $1.37. A sustained close above $1.53 would strengthen the case for testing $1.70‑$1.80, while a drop below $1.37 could expose the $1.30‑$1.24 support region.