XRP Rises on Whale Demand but Faces Key Resistance Ahead
XRP advanced 3% in the past 24 hours, climbing from $2.74 to $2.82 as large holders added nearly $960 million in exposure. The gains came amid heavy institutional flows, with 164.9 million tokens traded during the morning rally — nearly twice the daily average.
Blockchain data shows whales accumulated 340 million XRP over the past two weeks, reinforcing conviction despite broader market caution. However, September’s historical weakness for crypto and lingering regulatory uncertainty remain significant headwinds. Several spot ETF applications for XRP, including those from Grayscale and Bitwise, are still pending review by U.S. regulators.
Price action established $2.70–$2.74 as a firm support zone, while $2.83 marked immediate resistance after repeated rejection. By session close, XRP consolidated near $2.77 as retail flows took over from early institutional activity.
On the technical side, momentum signals are mixed. RSI sits in the mid-50s, leaning neutral-to-bullish, while the MACD histogram is converging toward a potential bullish crossover. A symmetrical triangle continues to compress under the $3.00 level, with a breakout above $3.30 opening upside targets near $4.00. Failure to hold the $2.70 floor, however, could expose downside toward $2.50.
Traders are weighing whether sustained whale accumulation can offset macro pressure. A decisive move above $2.83 would set up a retest of $3.00–$3.30, while a breach below support risks confirming bearish calls for a deeper correction.
