XRP Holds Below $3 as Whale Buying Counters Institutional Pressure
XRP rebounded from intraday lows on Sept. 3 as whale accumulation helped absorb ongoing institutional selling. Still, price gains remain capped below key resistance near $2.86–$2.88.
Market Snapshot
During the 24-hour period from Sept. 2 at 14:00 to Sept. 3 at 13:00, XRP traded in a tight $2.81–$2.87 range. Over the past two weeks, large holders added roughly 340 million XRP (~$960M), offsetting approximately $1.9 billion in institutional liquidations since July. XRP Ledger transaction volume reached 2.15 billion XRP on Sept. 1, more than double its typical daily activity, indicating elevated market participation.
Analysts remain split. Some point to bullish long-term setups—including symmetrical triangles and Elliott Wave counts—with potential upside toward $7–$13. Others warn that momentum may be limited below multi-year resistance levels.
Price Action
- XRP opened near $2.84 and closed at $2.85, posting slight gains despite early volatility.
- The price dipped to $2.79 early in the session before rebounding to highs near $2.87.
- Support developed at $2.82, repeatedly attracting bids, while resistance near $2.86 capped upside.
- A late-session spike to $2.873 on 5.38M volume was rejected, pushing XRP back below $2.85.
Technical Indicators
- Support: $2.82 is the key zone; lower levels at $2.70 and $2.50 provide additional cushions.
- Resistance: $2.86–$2.88 acts as near-term supply; psychological $3.00 and breakout level $3.30 remain critical.
- Momentum: RSI mid-50s, indicating a neutral-to-slightly bullish bias.
- MACD: Histogram converging toward bullish crossover suggests momentum could strengthen if volume persists.
- Patterns: Symmetrical triangle under $3.00 remains intact; a breakout above $3.30 could unlock higher targets.
- Volume: Session surges of 93M–95M XRP vs. 44M average highlight active institutional flows.
What Traders Are Watching
- Whether $2.82 support can withstand renewed selling pressure.
- Key breakout thresholds: $2.86–$2.88, $3.00, and $3.30.
- Continued whale accumulation versus institutional liquidations.
- Macro and regulatory factors, including Fed policy and pending SEC guidance, that could shift market sentiment.
