XRP, the native token of the XRP Ledger, fell below $1.34, a support level that a crypto analyst had identified as important to the token's earlier bullish structure. The break weakened the setup that had pointed toward a $1.70-$1.78 target range and shifted attention to lower support levels.

The move has also renewed attention on the on-chain activity that preceded XRP's August rally. Santiment reported that 85 new wallets holding at least 1 million XRP appeared two days before the token's reported 67% surge from August 17 to August 21.

XRP's $1.34 Break and the Next Support Area

XRP recorded a reported 67% gain between August 17 and August 21. The token later suffered the largest decline among major cryptocurrencies after the Senate failed to advance the CLARITY Act.

XRP subsequently lost the $1.34 support level and fell quickly toward $1.26. In technical analysis, support levels mark prices where buyers previously stepped in, and a break below one re-draws the map of levels traders watch next. Within the technical framework described by the analyst, the former support level remains important. A recovery above $1.34 would improve the structure relative to the current position, while continued weakness would keep lower support zones in focus.

The analyst identified $1.24-$1.26 as the area that bulls need to defend. A recovery and sustained hold above the lost levels would represent a more constructive technical development, although the framework does not by itself confirm a reversal. The earlier $1.70-$1.78 objective therefore remains conditional on XRP stabilizing around the identified support area and regaining ground after the break below $1.34.

Diana wrote on X on September 15, 2026:

$XRP JUST LOST $1.34 — IS $1.10 → $1.00 NOW NEXT? $XRP lost the $1.34 support and quickly flushed toward $1.26. More importantly, the previous bullish structure toward $1.70–$1.78 has weakened significantly. $1.24–$1.26 = first level bulls need to defend LOSE… pic.twitter.com/jVreTjTCR1 — Diana (@InvestWithD) September 15, 2026

The same post raised $1.10-$1.00 as the next area in question, extending the analyst's map of downside reference levels.

Millionaire Wallets Preceded the August Rally

Santiment's chart showed the addition of 85 wallets holding at least 1 million XRP two days before the token's 67% breakout from August 17 to August 21. The analytics platform posted the observation on X on September 15, 2026:

Still getting over that sudden +67% $XRP price breakout? The ledger's millionaire wallets moved first. The chart shows 85 new 1M+ XRP addresses appearing just 2 days before XRP's 67% breakout from Aug. 17 to Aug. 21. Million-plus wallets can absorb supply, deepen bids, and… pic.twitter.com/5FxTFRKlUV — Santiment Intelligence (@SantimentData) September 15, 2026

Santiment's data is available through its XRP number of 1M+ wallets chart. The observation is relevant because larger wallets can absorb supply, strengthen bids and shift liquidity more quickly than retail traders. According to the source, changes in this wallet group have sometimes appeared ahead of XRP's sharpest moves. Because the XRP Ledger records address activity publicly, shifts in whale holdings can be tracked directly — a transparency that has made large-wallet monitoring a routine part of crypto market analysis.

Wallet growth is context rather than a standalone price signal. Santiment also described a broader constructive setup around the XRP Ledger, including an RLUSD credit fund focused on fintech and payments lending on XRPL, as well as Ripple's investments in ZILO and Licuido. Those developments provide network context but do not determine a price outcome.

XRP ETF Inflows and the Current Technical Picture

On the institutional side, U.S.-based spot XRP exchange-traded funds had attracted more than $43 million in inflows during August, according to the source. If that trend continued, the funds could extend their inflow streak to 10 consecutive weeks. Spot ETF flow figures offer a periodic, regulated-market gauge of institutional participation in the asset, complementing the on-chain wallet data.

The ETF flows and the wallet data are separate indicators and do not establish a single cause for XRP's price action. The August increase in millionaire wallets preceded a sharp rally, but the current technical picture depends on whether XRP can hold the identified support levels.

For now, address growth remains relevant on-chain context, while price action around $1.24-$1.26 and the previously lost $1.34 level remains the immediate focus of the analysis. Weekly ETF flow prints, updates to Santiment's wallet chart, and whether the token holds or reclaims the analyst's outlined levels are the observable checkpoints for that assessment.