XRP Trades Between $2.70 and $2.83, Indicating Potential Uptrend

Key Highlights

Whales have amassed around 340 million XRP, valued at approximately $960 million, signaling their long-term confidence despite the broader market’s selling pressure.
September tends to be challenging for cryptocurrencies, affected by macroeconomic uncertainty.
XRP’s price is currently fluctuating within a 4% range, with substantial trading volumes indicative of institutional purchases possibly followed by retail profit-taking.

Over the past two weeks, whales accumulated about 340M XRP (~$960M), countering broader selling trends and demonstrating longer-term confidence.
September often proves weak for crypto markets due to uncertainties surrounding central bank policies and growth prospects.
While early session trading volumes were notably high, they began to decrease as the day progressed, reflecting institutional-driven buying at the open.

Price Range: $2.70–$2.83, indicating a roughly 4% swing. The price touched $2.71 around 21:00 before rising to nearly $2.83.
Trading Volume: Reached 101.36M and 93.66M in surges, contrasting with a 24-hour average of 65.49M. The weekly pace is about 19% higher than normal.

Support Level: Found between $2.70–$2.72 indicating volume-backed demand. Secondary levels at $2.65 and $2.50 in case of increased pressure.
Resistance Level: Immediate resistance is around $2.83, beyond which significant psychological resistance at $3.00 exists, along with structural breakout levels at $3.30.
Momentum Indicators: RSI is sitting in the mid-50s, indicating neutral-to-bullish sentiment. MACD shows a histogram converging to a bullish crossover, suggesting momentum could strengthen if volumes stay elevated.
Trading Patterns: A symmetrical triangle is developing under the $3.00 mark, with sustained moves above $3.30 potentially targeting $4.00 and beyond.