Whales Accumulate Nearly $1B in XRP as Price Holds Below $3
XRP spent the past day trading in a narrow band between $2.70 and $2.83, with volatility running higher than average as whale accumulation continued to provide a floor for prices. Technical signals are pointing toward a possible breakout, though strong resistance has capped upside momentum.
Whale Activity and Market Backdrop
Over the last two weeks, large holders have acquired roughly 340 million XRP, worth close to $960 million. The steady accumulation has countered broader market selling and signals conviction from long-term investors. Still, crypto markets enter September under seasonal pressure, with macro uncertainty over monetary policy and global growth keeping risk appetite subdued.
Trading flows showed heavy institutional participation early in the session, driving volumes well above trend before activity tapered into more retail-driven orders.
Price and Volume Snapshot
- Period: Sept. 1, 14:00 → Sept. 2, 13:00
- Range: $2.70–$2.83 (≈4%)
- Low: $2.71 near 21:00 before bouncing
- High: $2.83, repeatedly rejected
- Volume: Spikes of 101.36M and 93.66M versus a 24h norm of 65.49M; weekly activity tracked ~19% above average
- Trend: A base formed at $2.70–$2.72 with price consolidating just under resistance
Technical Picture
- Support: Firm at $2.70–$2.72; secondary levels at $2.65 and $2.50 if pressure builds
- Resistance: First test at $2.83; further barriers at $3.00 (psychological) and $3.30 (structural breakout)
- Momentum: RSI sits in the mid-50s, leaning slightly bullish
- MACD: Histogram nearing a bullish crossover; a confirmed signal on strong volume would support further gains
- Pattern: A symmetrical triangle is forming beneath $3.00, with upside potential toward $4.00 on a clean break above $3.30
- Flows: Institutional-led accumulation early, followed by retail profit-taking at resistance levels
Focus for Traders
- A decisive push through $2.83 and then $3.00, with a close above $3.30, could unlock higher targets
- Defending $2.70–$2.72 remains key support; a breakdown shifts attention to $2.50
- Watch for RSI clearing 60 and a bullish MACD cross on rising volume for confirmation
- Whale activity will be critical in determining whether XRP can weather September’s seasonal weakness
