Overview

XRP experienced notable volatility, fluctuating between $2.76 and $2.86, influenced by geopolitical and monetary policy uncertainties. During this time, 340 million XRP were amassed by whales, indicating institutional interest despite the broader market’s selling trend.

Market Analysis

• Resistance Levels: Critical thresholds are seen at $2.86 and $3.30. Continued trading above these levels could confirm ongoing bullish momentum.
• Volatility: A 23-hour session from September 2 to September 3 showed movement between listed lows and highs, while geopolitical tensions added to market instability.
• Whale accumulation suggests institutions may be taking positions despite recent sell-offs since July.

Price Action

• XRP started near $2.79 and closed around $2.82, marking a 2% gain for the session.
• Defensive buying at $2.76 alongside high volume assures support levels.
• Price improvements peaked at $2.86, revealing strong institutional activity.

Technical View

• Support Zones: $2.76–$2.78 have secured the price significantly.
• Resistance Levels: $2.86 holds as the immediate barrier, with $3.00 and $3.30 signaling key breakout points.
• Momentum Indicators: The RSI indicates a neutral to bullish bias, while the MACD shows an impending bullish crossover, accentuating the case for continued accumulation.

What Traders Are Monitoring

• Key Support: Will $2.76 hold under pressure?
• Resistance Break: A close above $2.86 and $3.00 is crucial for extending bullish trends.
• Market Catalysts: Watch for ETF rulings in October for potential market shifts.