XRP Stays Range-Bound as Whales Accumulate $960M Ahead of Key Levels
XRP traded tightly between $2.70 and $2.83 over the past 24 hours, with volatility elevated and technical signals hinting at a potential breakout. Heavy buying from large holders has provided a cushion, even as broader market sentiment remains cautious.
Whale Activity and Market Tone
Data shows whales have added roughly 340 million XRP—worth close to $960 million—in the past two weeks. That inflow has offset broader selling pressure and underscores conviction among long-term investors. September, however, is historically a soft month for digital assets, with uncertainty around monetary policy and growth continuing to weigh on risk assets.
Trading was dominated by institutional flows early in the session, lifting volumes well above average, before easing into more retail-driven activity later in the day.
Price Action Recap
- Period: Sept. 1, 14:00 → Sept. 2, 13:00
- Range: $2.70–$2.83 (~4% swing)
- Low: $2.71 near 21:00 before rebounding
- High: $2.83, repeatedly rejected
- Volume: Surges to 101.36M and 93.66M, versus a daily average of 65.49M; weekly pace about 19% above normal
- Trend: A solid base forming at $2.70–$2.72; consolidation continues just under resistance
Technical Picture
- Support: $2.70–$2.72 key zone; $2.65 and $2.50 secondary levels if selling pressure increases
- Resistance: $2.83 immediate barrier, followed by $3.00 and structural breakout at $3.30
- Momentum: RSI sits in the mid-50s, tilting neutral-to-bullish
- MACD: Histogram nearing a bullish crossover, which could confirm positive momentum if volumes stay strong
- Pattern: Symmetrical triangle developing below $3.00; breakout above $3.30 could open targets near $4.00
- Flows: Institutional buying early in the day, retail profit-taking into resistance later
Key Watchpoints
- Whether XRP can clear $2.83 and then $3.00; a decisive close above $3.30 would confirm upside extension
- If $2.70–$2.72 support holds; a breakdown risks a slide toward $2.50
- Technical confirmation via RSI above 60 and MACD bullish cross on rising volume
- Whether whale demand continues to absorb September’s seasonal weakness
