Market context
XRP is trading around $1.45, up more than 6% on the week, after the Bank for International Settlements published a proof-of-concept paper testing the XRP Ledger as a substrate for verifying official statistics on-chain. CryptoPotato and ZyCrypto both flagged the paper on Friday. The BIS didn't endorse XRP the asset, and it's worth being precise about that. It tested XRPL as a public ledger capable of anchoring cryptographic proofs of national accounts data. That's a narrow claim. It's also the first time a central-bank-adjacent institution has singled out XRPL by name in a technical evaluation, and the market read it as the strongest institutional signal of the cycle.
The backdrop matters. The Fed's dovish tilt last week pushed risk assets higher across the board, and XRP outperformed most large caps into Friday's close. Whale accumulation and ETF-related inflows have been in the flow picture for a week, though the ETF wrapper for XRP remains pending rather than live. Traders are effectively pricing in the CLARITY Act vote on Sept 15 and the ETF approval optionality behind it.
Technical setup
XRP broke $1.40 on Friday and closed the week above it. The next visible resistance sits at $1.55, the mid-August swing high, and above that $1.72, which capped the July rally. Support is layered: $1.36 (Friday's breakout retest), $1.30 (the 50-day moving average), and $1.24 (the mid-August low that would invalidate the breakout structure).