XRP is sitting right on the knife's edge. The token trades near $1.06, squeezed inside a shrinking symmetrical triangle that's about to snap one way or the other. Buyers and sellers have gone quiet, waiting for the pattern to break.

The setup looks textbook. When a triangle like this collapses, the move tends to be sharp. A close above $1.15 on real volume would signal bulls have won and could launch the token higher. Drop below $1.03 and sellers take control, opening the door to deeper losses. For now, the range between $1.03 and $1.06 holds as the critical support zone.

use Dries Up as Traders Pull Back

What's telling is what's happening underneath the price action. XRP futures volume fell 4.36% over the past day, landing near $1.35 billion, while open interest sits around $2.27 billion. The real shift shows up in the use numbers. CryptoQuant data puts open interest near a six-month low, somewhere between 362 million and 369 million contracts. The estimated use ratio has dropped to 0.139 to 0.142.

Translation: traders are backing away. They're reducing exposure after the recent decline, not doubling down. That's a reset, not a panic. Long and short liquidations have been trading places, which means the market isn't tilting hard in either direction yet. Funding rates have stayed range-bound between negative 0.0024 and positive 0.010, confirming the absence of extreme conviction either way.

Spot flows tell a similar story. CoinGlass recorded a net outflow of about $2.94 million on August 5, modest compared to the heavy exits seen late in 2025. The selling pressure has eased.

RWA Growth Keeps Grinding Forward

Away from the price charts, Ripple's real-world asset push on the XRP Ledger continues to gain traction. The number of RWA holders jumped 25.16% over the past month, while the value of represented assets climbed 2% to $4.06 billion. It's steady progress, not explosive, but it shows institutional interest in tokenized assets isn't fading despite the price volatility.

For XRP traders watching the triangle, the next move is everything. Volume will be the tell. A breakout north requires conviction; a move south just needs the support to crack.

This material is for information only and should not be construed as financial advice or a recommendation to buy or sell any asset.