XRP Dips Below $2.80 Amid Weak September Start, Technicals Signal Potential Rebound

XRP Drops to $2.75 as September Opens Bearish, But Whale Accumulation Suggests Recovery Potential

XRP declined from $2.85 to $2.75 in the Aug. 31–Sept. 1 session, reflecting short-term selling pressure at $2.80, offset by long-term holders who added 340 million tokens.

Market Context
Institutional liquidations totaling $1.9 billion since July have intensified market volatility, prompting fears of cyclical weakness. At the same time, whale accumulation over the past two weeks indicates continued confidence among long-term investors.

Historical seasonality and regulatory uncertainty add caution. September has traditionally been a weaker month for crypto, and unresolved SEC actions keep institutions wary.

On-chain data shows rising activity on the XRP Ledger, with symmetrical-triangle formations reminiscent of 2017 pre-breakout conditions. Liquidity concentrations near $4.00 could amplify upside if resistance is broken.

Price Action Highlights

Sharpest decline: Aug. 31, 23:00 GMT — XRP fell from $2.80 to $2.77 on 76.87M volume, nearly triple the daily average.
Support tests: Sept. 1, 01:31–02:30 GMT — price dropped from $2.77 to $2.75, with spikes of over 10M tokens per minute confirming forced liquidations.
Intraday high: $2.87, capped by institutional selling.

Technical Analysis

Support: $2.75–$2.77 as the immediate floor; $2.50 and $2.00 as longer-term levels.
Resistance: $2.80–$2.87 short-term ceiling; $3.30 higher-term target.
Momentum: RSI stabilized in mid-40s, signaling oversold conditions.
MACD: Bearish divergence persists, but histogram compression hints at potential bullish reversal.
Patterns: Symmetrical triangle and double-bottom formations align with a cup-and-handle structure; potential upside $5–$13 if resistance breaks.
Volume: Heavy distribution at $2.80 confirmed, but whale accumulation of 340M XRP supports longer-term bullish structure.

Traders’ Focus

Can $2.75 hold as the new support?
A close above $2.87 could shift momentum toward $3.30.
Divergence between institutional selling ($1.9B since July) and whale accumulation (340M tokens) may drive future price action.
Seasonal September weakness versus bullish structural setups remains key to watch.