XRP Consolidates Below $3 as Whale Accumulation Counters Institutional Selling
XRP rebounded from session lows on Sept. 3, with whale accumulation helping offset institutional liquidations. Despite the buying support, price momentum remained capped by resistance levels below the $3 mark.
Market Summary
During the 24-hour session from Sept. 2 at 14:00 to Sept. 3 at 13:00, XRP traded in a tight range of $2.81–$2.87. Over the past two weeks, large wallets added roughly 340 million XRP (~$960M), balancing approximately $1.9 billion in institutional sell-offs since July. Total transaction volume across the XRP Ledger reached 2.15 billion XRP on Sept. 1, more than double the daily average, signaling heightened market activity.
Analysts remain divided. Some highlight long-term bullish setups—including symmetrical triangles and Elliott Wave structures—with upside targets between $7 and $13. Others caution that momentum may fade below multi-year resistance trendlines.
Price Action
- XRP opened near $2.84 and closed at $2.85, showing a modest gain despite intraday swings.
- Early-session dips brought the price to $2.79, before rebounding to highs around $2.87.
- Support at $2.82 repeatedly absorbed bids, while resistance near $2.86 limited gains.
- A late-session surge to $2.873 on 5.38M XRP volume was rejected, pulling the price back below $2.85.
Technical Analysis
- Support Levels: $2.82 is the key zone; lower levels at $2.70 and $2.50 could provide additional support.
- Resistance Levels: $2.86–$2.88 remains a supply zone; psychological $3.00 and breakout at $3.30 are critical for upside continuation.
- Momentum: RSI sits in the mid-50s, signaling a neutral-to-slightly bullish bias.
- MACD: Histogram is converging toward a bullish crossover, suggesting momentum could strengthen if volume persists.
- Patterns: Symmetrical triangle consolidation under $3.00 remains intact; a breakout above $3.30 may target higher levels.
- Volume: Session spikes of 93M–95M XRP, well above the 44M average, reflect active institutional flows.
Trader Focus
- Watching if $2.82 support can withstand renewed selling pressure.
- A decisive close above $2.86–$2.88, followed by $3.00 and $3.30, is needed for a breakout setup.
- Tracking ongoing whale accumulation versus institutional selling.
- Monitoring regulatory and macro catalysts, including Fed policy and SEC clarity, which could shift market sentiment quickly.
