XRP Price Tests Support Amid Concentrated Supply Data

XRP is trading at $1.38 while showing signs of consolidation. Recent data from XRPSCAN shows that the ten largest entities hold about 64.1 percent of the total supply. Ripple itself accounts for nearly 40 percent of these holdings, with a significant portion tucked away in escrow. Major exchanges like UPbit, Coinbase, and Binance round out the list, holding billions of tokens on behalf of their users.

This high level of concentration is a major factor as traders watch the current price range. With XRP failing to hold its August rally toward $1.70, the market is now waiting for a clear direction. The $1.35 to $1.38 zone acts as a critical line in the sand. This area aligns with the 200 day EMA and has seen significant historical trading volume.

Looking ahead, traders are watching two main scenarios. A stable hold above $1.38 could allow the price to push through resistance levels at $1.55 and $1.60. However, a drop below $1.35 would change the picture, potentially pushing the asset down toward $1.31 or $1.27. For now, the market remains stuck in a holding pattern while waiting for a fresh catalyst.