XRP traded just above $1.30 on Friday as futures open interest kept sliding, a sign that leveraged traders are stepping back after the CLARITY Act stalled in the Senate and the Federal Reserve raised rates again. Separately, an Uphold-linked wallet moved 500 million XRP worth nearly $649 million to five newly created addresses in 16 minutes.
XRP held just above $1.30 on Friday, unable to reclaim the $1.50 level it touched on Monday. Sentiment weakened after the U.S. Senate failed to advance the CLARITY Act and the Fed raised its benchmark rate by 25 basis points to a range of 3.75% to 4.00%.
Futures open interest keeps sliding
XRP futures open interest fell to 2.12 billion tokens on Friday from 2.25 billion the day before. It has also retreated considerably from the 2.78 billion XRP recorded on Aug. 15. Falling open interest suggests traders are closing leveraged positions rather than opening new ones, and if the decline continues, XRP may struggle to attract the speculative demand needed for a sustained move back toward $1.50.
Ripple maintains that XRP already carries a legal advantage from its court battle with the SEC, arguing the token remains on solid ground even without the broader clarity the failed bill would have provided.
Support holds near $1.26 to $1.28
XRP remains above its 50-day and 100-day exponential moving averages, which provide support around $1.28 and $1.26. The 200-day EMA near $1.36 marks the first major resistance, and a break above it could reopen the path toward $1.50.
The MACD indicator has fallen further below zero with an expanding negative histogram, pointing to weakening bullish momentum. Meanwhile, the Relative Strength Index sits at 49, slightly below its neutral midpoint. A daily close below the $1.26-$1.28 zone would strengthen the bearish case, while holding it and reclaiming $1.36 would signal buyers regaining control.
Uphold shifts $649 million to new wallets
While XRP consolidated, a wallet labeled Uphold (12) sent five payments of 100 million XRP each to newly created addresses on Sept. 17, a transfer worth nearly $649 million. All five receiving addresses were activated by the same wallet hours earlier and, as of the report, still held 100% of the XRP they received.
It was Uphold's second nine-figure XRP move in four days, following a 145.6 million XRP transfer on Sept. 14. The activity could reflect an internal cold-storage split or a large client exit, but onchain data alone cannot confirm which. XRP traded between about $1.29 and $1.32 that afternoon, and the transfers did not touch an order book.
Sources: CoinJournal, Bitcoin News
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