XRP Trades in a Narrow $3.00–$3.07 Range Ahead of Triangle Pattern Resolution

XRP Consolidates Near $3.05–$3.07 as Traders Eye Breakout

XRP is holding a tight range near $3.05–$3.07, with traders closely monitoring whether it can sustain levels above $3.05 amid rising exchange reserves and ETF-related speculation.

On September 11, the token saw a notable uptick, supported by heavy institutional inflows that pushed volume to more than four times the daily average. XRP gained nearly 2%, closing around $3.05 after defending support at $2.98 and testing resistance near $3.07. Analysts say accumulation remains robust, but high exchange inventories could create short-term distribution pressure.

Market and Regulatory Context

• Ripple expanded its partnership with Spanish bank BBVA to provide digital asset custody solutions under the EU’s MiCA framework, boosting institutional credibility.
• Broader crypto markets were influenced by macro factors, including anticipated central bank rate decisions and global trade policy developments.
• XRP futures open interest rose to $8.36 billion, indicating significant leveraged positioning ahead of possible ETF-related announcements.
• Whale wallets accumulated 340 million XRP in recent weeks, while exchange inventories hit a one-year high, raising the potential for near-term selling pressure.

Price Action Summary

• XRP climbed from $2.98 to $3.05 during September 11 trading, a 1.85% move within a $0.10 range.
• The strongest buying occurred during the 12:00 session, when volume surged to 243.37 million—over four times the daily average of 58.9 million—highlighting strong institutional demand.
• Resistance formed near $3.07 after multiple failed upside attempts, with profit-taking capping gains above $3.05.
• A late pullback saw XRP dip from $3.06 to $3.04 (-0.68%), but it closed above $3.04, suggesting ongoing accumulation at slightly lower levels.

Technical Outlook

• Support is anchored at $2.98, reinforced by strong intraday buying.
• Resistance is concentrated between $3.05 and $3.07, where repeated rejections occurred.
• A descending triangle is forming in the $3.00–$3.07 range, pointing to an imminent breakout.
• Final-hour volume spikes indicate distribution followed by recovery attempts.
• RSI improvements on intraday charts suggest growing buying momentum, though rising exchange inflows remain a headwind.

Traders’ Focus

• Sustained closes above $3.05 could lead to a test of $3.07 resistance, potentially opening the way toward $3.20.
• Rising exchange reserves, now at 12-month highs, could indicate distribution risk if whale inflows slow.
• Ripple’s BBVA partnership under MiCA may enhance institutional adoption and support price stability.
• Derivatives markets are tilted bullish: call options outnumber puts 3-to-1, with strikes clustered between $3.00–$3.50 ahead of September 12 expiries.
• Macro developments, including central bank policies and liquidity conditions, continue to influence flows into large-cap crypto assets.

XRP is showing strong accumulation within a narrowing range, and traders are awaiting a breakout from the $3.00–$3.07 corridor to define its next move.

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