XRP is trading just under $3, forming a narrowing descending triangle that highlights cautious market sentiment. A sustained break above $2.92 could pave the way toward $3.00–$3.30, while repeated rejections may reinforce resistance and trigger renewed selling pressure.
Price Action Summary
On Monday, XRP climbed from $2.83 to $2.88, briefly testing $2.92 on six times its average volume. Bulls defended support at $2.86, but repeated failures around $2.90–$2.92 limited upside. Over September 7–8, the token traded in a tight $0.10 range, up roughly 3%.
A notable spike occurred at 14:00 (Sept 7), when price jumped from $2.85 to $2.92 on 231.25M volume—six times the 24-hour average. The final hour saw a mild pullback to $2.87 with a 2.1M volume spike, reflecting short-term profit-taking.
Market Context
- Federal Reserve: Rate cut expectations remain near 100% ahead of the September 17 meeting, supporting institutional inflows.
- Geopolitical Risk: Rising U.S.-China trade tensions have boosted crypto flows.
- Whale Activity: Recent onchain data shows 340M XRP accumulated in recent weeks, with +10M XRP net buys during breakout windows.
- SEC ETF Rulings: Approval of spot XRP ETFs in October could trigger institutional inflows, while delays may cap momentum around $3.00.
Technical Indicators
- Support: $2.86 defended across multiple retests
- Resistance: $2.90–$2.92
- Indicators: RSI mid-50s, MACD histogram approaching bullish crossover
- Pattern: Descending triangle; breakout above $3.30 could target $4.00–$4.50
Traders are closely monitoring whether XRP can hold above $2.90 to sustain bullish momentum or remain capped under resistance, shaping the next significant move.
