News Background Whales accumulated about 340M XRP (~$960M) over the last two weeks. This offsets broader selling pressure and shows longer-horizon conviction. September is often a weak month for crypto. Macro uncertainty around central bank policy and growth outlook continues to pressure risk assets. On-chain and trading activity stayed elevated. Early in the session volumes ran well above normal, then cooled as the day progressed. The pattern matches institutional-led buying in the open and retail-driven trading into the close. Price Action Window: Sept. 1, 14:00 → Sept. 2, 13:00 (24h). Range: $2.70–$2.83, about a 4% swing. Price tagged $2.71 around 21:00 before rebounding to highs near $2.83. Volume: Surged to 101.36M and 93.66M in bursts, compared with a 24h average of 65.49M. Weekly pace was about 19% higher than average. Levels: A base formed at $2.70–$2.72. Repeated rejection near $2.83 capped the upside. The session ended consolidating just under resistance. Technical Analysis Support: $2.70–$2.72 with volume-backed demand. Secondary levels at $2.65 and $2.50 if stress builds. Resistance: $2.83 near term. Above that, $3.00 psychological and $3.30 structural breakout levels. Momentum: RSI in the mid-50s, showing neutral-to-bullish conditions. MACD: Histogram is converging toward a bullish crossover. This would confirm constructive momentum if volumes remain high. Patterns: A symmetrical triangle is forming under $3.00. A sustained move above $3.30 could target $4.00 and beyond. Intraday higher lows point to continued accumulation. Flows: Early heavy prints suggest institutional buying. Later fades show retail profit-taking under resistance. What Traders Are Watching A breakout above $2.83 and then $3.00. A clean close through $3.30 is needed for upside extension. Whether $2.70–$2.72 support holds. A close below this range shifts focus to $2.50. Confirmation from RSI moving above 60 with a MACD cross on rising volume. Ongoing whale accumulation and whether it can absorb further September weakness.
