XRP has shown renewed strength in early September as technical indicators signal a potential shift in momentum. Over a 24-hour window from Sept. 1 at 03:00 to Sept. 2 at 02:00 UTC, XRP climbed from $2.74 to a session high of $2.83, reflecting a 3% gain on robust intraday volume spikes. Institutional trading dominated early hours, with one surge of 164.9 million tokens traded between 07:00 and 08:00 UTC, nearly double the 24-hour average, indicating strong participation beyond retail levels.
On-chain analysis reveals that whales have accumulated 340 million XRP (~$960 million) over the past two weeks, underscoring sustained conviction despite broader market headwinds. This accumulation contributed to a MACD histogram that is converging toward a bullish crossover, a pattern often interpreted by chartists as a precursor to upward price movements. Support levels have repeatedly held at $2.70–$2.74, while resistance at $2.83 has proven significant; a close above this ceiling may pave the way for tests of $3.00 and beyond.
Seasonal softness traditionally characterizes September in crypto markets, with historical data indicating average monthly declines of approximately 6%. In addition, pending spot XRP ETF applications from multiple issuers remain outstanding with U.S. regulators, introducing a layer of uncertainty that could either constrain or catalyze inflows upon approval. Analysts are divided: some caution that failure to break resistance risks retesting lows near $2.50, while others highlight long-term breakout setups targeting $7–$8 if a decisive move occurs above $3.30.
Risk management remains critical as the broader market navigates macroeconomic headwinds and regulatory developments. Stop-loss orders placed below the $2.70 floor could mitigate downside exposure, while traders aiming to capture further upside may consider scaling positions into breakouts above $2.83. Regardless of near-term swings, sustained whale accumulation suggests confidence in XRP’s medium-term prospects, reinforcing narratives around on-chain momentum and potential catalyst events such as ETF rulings and network upgrades.
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