XRP is trading just below the $3 mark, forming a narrowing descending triangle that underscores cautious market sentiment. A decisive break above $2.92 could open the path to $3.00–$3.30, while repeated failures may reinforce resistance and invite renewed selling pressure.
Price Action Highlights
On Monday, XRP surged from $2.83 to $2.88, briefly testing $2.92 on six times the average volume. Bulls successfully defended the $2.86 support zone, but repeated rejection at $2.90–$2.92 capped upside momentum. The token gained roughly 3% in a $0.10 range during September 7–8.
The most notable spike came at 14:00 (Sept 7), when XRP jumped from $2.85 to $2.92 on 231.25M volume, six times the 24-hour average. A mild pullback to $2.87 in the final hour, accompanied by a 2.1M volume spike, signaled short-term profit-taking.
Market Drivers
- Federal Reserve Meeting (Sept 17): Rate cut expectations are near 100%, boosting institutional crypto inflows.
- Geopolitical Risk: Rising U.S.-China trade tensions have shifted risk flows into digital assets.
- Whale Activity: Recent onchain data shows +10M XRP net buys during breakout windows, with 340M XRP accumulated over recent weeks.
- SEC ETF Rulings (October): Approval could trigger institutional inflows, while delays may cap momentum near $3.00.
Technical Snapshot
- Support: $2.86 defended across multiple retests
- Resistance: $2.90–$2.92 remains a key ceiling
- Indicators: RSI mid-50s, MACD histogram approaching bullish crossover
- Pattern: Descending triangle; breakout above $3.30 could target $4.00–$4.50
Traders are focused on whether XRP can sustain a close above $2.90. A confirmed breakout could drive further gains, while failure to clear resistance may lead to additional consolidation or selling pressure.
