Institutional Selling Knocks XRP Lower, but ETF Catalysts Loom
A sharp rejection at $2.88 pushed XRP down 4% on Sept. 5, highlighting the tug-of-war between institutional flows and growing ETF optimism.
The decline erased earlier gains as sellers stepped in on surging volume, which peaked at 227.75 million versus a 58.40 million daily average. A breakdown through $2.86 and $2.85 supports triggered stop-losses, sending XRP back to $2.84 by session close.
Still, underlying sentiment remains constructive. Whale wallets have added 340M XRP in recent weeks, and technical analysts argue the current 47-day trading band resembles historical structures that preceded breakout rallies.
The bigger driver lies ahead: SEC rulings on six spot XRP ETF applications are due in October. A decisive move above $3.30 could clear the path toward $4 or higher, while a slip below $2.77 risks deeper downside.
