XRP held within a $2.70–$2.84 band between Aug. 31 and Sept. 1, with large holders stepping in to absorb selling at support while resistance capped moves higher.
The token dipped from $2.80 to $2.70 late on Aug. 31 before rebounding to $2.82 on strong volumes. More than 164 million XRP traded hands during the morning rebound—over twice the session average—cementing $2.70–$2.73 as a short-term floor. Blockchain data shows whales accumulated 340 million XRP over the past two weeks, underscoring institutional demand despite broader headwinds.
Technical signals suggest consolidation. RSI remains in the mid-40s, pointing to a neutral-to-bearish bias, while MACD continues to compress, leaving room for a crossover if accumulation persists. A symmetrical triangle is forming, with a potential breakout target near $3.30 should resistance at $2.82–$2.84 give way.
For traders, the key levels are clear: a hold above $2.70 supports renewed tests of $2.84, while a close above that ceiling could open the path to $3.00–$3.30. A breakdown below $2.70, however, risks exposing $2.50 as the next support zone.
