After Steep Drop, XRP Holds $2.82 Support as Technicals Eye $3.30 Test

XRP continues to trade in a prolonged consolidation phase, holding below $3.00 for 47 straight days, with market focus now shifting to the $2.77 support zone and the SEC’s October decisions on spot ETF filings.

Price Action Recap

Attempts to push through the $2.88–$2.89 resistance band faltered last week, sparking a 4% retreat as institutional selling met strong buy-side interest. Volume confirmed heavy supply in that zone, while demand between $2.81 and $2.83 helped stabilize the pullback.

At its sharpest point, XRP slid from $2.88 to $2.81 at 14:00 UTC on Sept. 5, with nearly 280 million tokens changing hands. The token later closed near $2.82, narrowly holding above the $2.77 pivot. Overall, price traded within a narrow $0.08 range — about 3% intraday volatility.

Market Drivers

ETF Outlook: Six asset managers have filed for spot XRP ETFs, with SEC rulings due in October.
Whale Flows: Roughly 340 million XRP have been accumulated by large investors in recent weeks.
Supply Pressure: Exchange balances remain elevated above 3.5 billion XRP, suggesting potential headwinds if selling returns.
Macro Climate: Fed policy and inflation data continue to shape risk appetite across digital assets.

Notably, a previous breakout attempt saw 227.7 million tokens traded around $2.88–$2.89, firmly establishing that level as resistance.

Technical View

Support: $2.77–$2.81 remains a well-defended demand zone.
Resistance: Immediate ceiling at $2.88–$2.89, with $3.00 psychological resistance and $3.30 as the breakout trigger.
Momentum: RSI sits in the mid-50s, pointing to neutral-to-bullish sentiment. MACD signals are edging toward a bullish crossover, contingent on higher volume.
Structure: Consolidation under $3.00 persists; a breakout above $3.30 could open room toward $4.00+.