News Background
- XRP traded in a volatile 23-hour session from Sept. 2 at 03:00 to Sept. 3 at 02:00, moving between $2.76 and $2.86.
- Geopolitical and monetary policy uncertainty continue to drive volatility across crypto markets. Fed rate-cut expectations remain in flux after inflation data releases, adding to liquidity stress.
- Whale accumulation of
340M XRP ($960M) over the past two weeks suggests institutions are positioning on weakness despite broader selling since July. - Analysts remain split: some flag downside risks toward $2.50 if $2.76 breaks, while others cite long-term breakout setups with targets above $4.00 if $3.30 resistance clears.
Price Action
- XRP opened near $2.79 and closed around $2.82, up 2% on the session.
- Intraday low at $2.76 (12:00 GMT) was quickly defended with volume spikes above 180M, well above the 24h average of 78M.
- Price then advanced to $2.86 during the 13:00–14:00 recovery, establishing resistance.
- Final hour saw another push from $2.83 to $2.86 with 3M+ tokens per minute traded, confirming institutional participation.
Technical Analysis
- Support: $2.76–$2.78 defended on heavy volume. Next downside guardrails sit at $2.70 and $2.50.
- Resistance: $2.86 near-term cap; $3.00 and $3.30 remain key breakout levels.
- Momentum: RSI steady in mid-50s, showing neutral-to-bullish bias.
- MACD: Histogram converging toward bullish crossover, supportive of accumulation thesis.
- Patterns: Symmetrical triangle under $3.00 remains intact. Higher lows point to growing pressure for a breakout if $2.86 is cleared.
What Traders Are Watching
- Can $2.76 continue to hold under repeat tests, or does a breakdown open $2.50 risk?
- A sustained close above $2.86, then $3.00, as signals for momentum continuation.
- Whale and ETF-related flows: October deadlines for spot ETF rulings could act as a catalyst.
- Whether volume remains elevated or fades back toward averages, determining strength of the breakout setup.
Source link
Shaurya Malwa
https://www.coindesk.com/markets/2025/09/03/xrp-trading-idea-neutral-rsi-and-symmetrical-triangle-support-usd3-30-breakout
2025-09-03 03:04:00
