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XRP price holds near $1.04 amid normalized payment volume after a sharp August spike.

Market News
09 Aug 2026
Blockonomi
View Source
Neutral
XRP price holds near $1.04 amid normalized payment volume after a sharp August spike.

XRP price is steady around $1.04 following a nearly 90% drop in XRP Ledger payment volume from a brief surge of 614.9 million XRP on August 7. This sharp volume spike was likely due to a one-time institutional transfer rather than sustained demand. The $1 level is a key short-term support, with resistance near $1.08 to $1.10 and potential downside to $0.95 if broken. Longer-term forecasts suggest a possible recovery to $2.50, but XRP must first reclaim key moving averages and reverse its current downward trend. Ripple's expansion into custody, stablecoins, and tokenization supports institutional demand but broader market factors will influence price movements.

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