Korean Accumulation Fuels Bullish Case for XRP Toward $5

XRP Gains Support as Korean Buyers Step In Amid Sell-Off

XRP slipped 4.3% from $3.02 to $2.89 between Aug. 28–29 on above-average trading volumes before finding support near $2.83–$2.89. Despite persistent selling pressure, on-chain data indicates that Korean exchanges absorbed roughly 16 million XRP (≈$45.5 million), suggesting regional institutional demand is cushioning the decline.

South Korea has historically influenced altcoin price action through high speculative activity, and current accumulation by large wallets linked to exchanges and institutions may be putting a floor under XRP. Meanwhile, broader market movements included significant distribution in other tokens, such as $200 million worth of DOGE moving to Binance.

XRP Ledger activity increased sharply, with active addresses rising 20% over three days ahead of the Sept. 12 Decentralized Media launch. In parallel, Chinese fintech firm Linklogis integrated its trillion-dollar supply-chain financing platform with the XRP Ledger, boosting its equity 23% and highlighting growing enterprise adoption.

Price Action & Technical Outlook

Support: $2.77 remains the key base; $2.85–$2.86 has become an accumulation zone.
Resistance: $2.91 in the short term, with $3.02–$3.04 as the primary ceiling.
Momentum: RSI rebounded from 42 to the mid-50s; MACD shows signs of a potential bullish crossover.
Patterns: Symmetrical triangles and double-bottom formations align with a broader cup-and-handle setup, with technical targets extending toward $5–$13 if buying pressure continues.

Key Considerations
Traders are watching whether $2.85–$2.86 support holds, which could trigger a run toward $3.20. Failure of the $2.77 floor may open a path to $2.70. Institutional accumulation, particularly on Korean exchanges, will be pivotal in sustaining XRP’s momentum through September’s event-driven trading calendar.