XRP slipped from $3.02 to $2.89 in the 24-hour session from August 28 at 13:00 UTC to August 29 at 12:00 UTC, amid broader market weakness and retail selling pressure. On-chain data indicated that Korean exchanges absorbed 16 million XRP (approx. $45.5 million) during the sell-off, highlighting regional institutional demand that provided a stabilizing floor.
Technical analysis showed key support at $2.85–$2.86, with RSI recovering from oversold levels near 42 to the mid-50s and MACD histogram tightening toward a bullish crossover. A confirmed break above $3.02–$3.04 resistance is needed to target further upside, while a failure of $2.77 support would open the path toward $2.70–$2.75.
News background included increased XRPL activity, with active addresses rising 20% ahead of the September 12 Decentralized Media launch, and enterprise adoption from fintech integrations like Linklogis’ supply-chain financing platform.
Outlook
- Support: $2.85–$2.86 zone, with critical floor at $2.77.
- Resistance: $3.02 short-term cap; break likely to propel toward $3.20.
- Volume: Elevated recovery volumes signaled buyer interest at support.
Market participants will monitor institutional flows into Korean exchanges and technical signals for direction into the next crypto event calendar.
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