XRP Consolidates Beneath $3 as Technical Indicators Point to Upside Move

XRP Consolidates Below $3 as Whale Buying Underpins Market

XRP moved between $2.70 and $2.83 in the past 24 hours, trading with higher-than-usual volatility as large investors stepped in with heavy accumulation. Technical indicators continue to build toward a potential breakout, though price remains capped under resistance.

Market Context
On-chain data shows whales purchased roughly 340 million XRP—worth close to $960 million—over the last two weeks. The buying spree has helped absorb broader selling pressure and points to confidence among long-term holders. September, historically a softer month for crypto, is once again clouded by macro concerns tied to central bank policy and global growth.

Trading volumes spiked early in the session, reflecting institutional flows, before easing into more retail-driven activity later on.

Price Dynamics

• Window: Sept. 1, 14:00 → Sept. 2, 13:00
• Range: $2.70–$2.83 (≈4% move)
• Low: $2.71 around 21:00 before recovery
• High: $2.83, where repeated rejection limited upside
• Volume: Peaks of 101.36M and 93.66M versus a 24h average of 65.49M; weekly volumes ~19% above norm
• Structure: A base is holding at $2.70–$2.72; consolidation continues just under resistance

Technical Picture

• Support: $2.70–$2.72; downside levels at $2.65 and $2.50 if selling resumes
• Resistance: Immediate barrier at $2.83; above that, the $3.00 psychological mark and $3.30 structural breakout level
• Momentum: RSI steady in the mid-50s, reflecting neutral-to-bullish tone
• MACD: Approaching a bullish crossover, which would strengthen the case for upside if volumes remain strong
• Pattern: A symmetrical triangle is developing beneath $3.00, with a breakout above $3.30 opening potential targets near $4.00
• Flows: Early prints tied to institutions; late-session retail activity reflected profit-taking near resistance

What’s Next

• A sustained push through $2.83, followed by $3.00, is needed to challenge $3.30 resistance and confirm upside momentum
• Holding $2.70–$2.72 support is key; a breakdown could shift focus to $2.50
• Traders are watching for RSI to climb past 60 and MACD to confirm a bullish cross on higher volume
• Whale accumulation remains a crucial factor in absorbing seasonal September weakness

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