XRP rises 48% to $1.48 after White House crypto summit

XRP has gained 48% in one week, rising from its August 17 cycle low of $0.9877 to around $1.48. The surge follows a sharp downturn earlier in the month, driven partly by the absence of a Senate vote on the CLARITY Act before the August 8 recess. Galaxy Research subsequently cut its estimate that the bill would become law in 2026 from 30% to 10%. The price action reversed between August 19 and August 22, with XRP climbing from $0.9877 to approximately $1.66. This rally coincided with U.S. President Donald Trump hosting a crypto policy summit at the White House, where he called on Congress to pass the CLARITY Act. Additionally, the U.S. Treasury announced plans to double its long-term bond buyback program from $2 billion to $4 billion starting September 9.

Despite the initial surge, XRP retreated to $1.44 before stabilizing near $1.48 as traders sold positions to break even and exchanges closed leveraged long positions due to mounting losses. The token’s daily Relative Strength Index (RSI) moved above 80 during the climb toward $1.66, a level generally signaling overbought conditions. However, the RSI has cooled to just above 60 in the last 24 hours, indicating that while buying momentum has eased, it remains bullish.

Technical indicators show that XRP currently trades above its 10-day and 100-day exponential moving averages at $1.27 and $1.18, respectively. The 50-day, 100-day, and 200-day simple moving averages also stand at $1.10, $1.15, and $1.27, all of which support a bullish trend. The coin has recorded a 39.1% rally in August, its best performance since January 2025. However, analysts note that buying at the current price is a bet on continued momentum rather than a valuation play on a cheaper entry point.

XRP faces immediate resistance at $1.50, a level it has struggled to overcome for eight months. A confirmed close above this threshold would signal a stronger breakout. Further resistance exists in the $1.65 to $1.70 zone, where sellers who triggered the August 22 downturn may re-enter. A sustained break above $1.70 could open the door for a rally toward $1.83, a level untested since January 2026.

Future price action depends on fresh demand, spot ETF inflows, and legislative progress on the CLARITY Act. XRP recorded $56.86 million in spot ETF inflows in August so far. If the token fails to break through its resistance levels, it could pull back toward $1.20 as traders take profits, potentially rendering positions taken at $1.48 negative.