XRP fell sharply with a wider market weakness and withdrew 4.3% in the 24-hour session from August 28 at. 13.00 to 29 August at. 12:00.
Data on the chain showed Korean exchanges that absorb 16 million XRP (≈ $ 45.5 million) under sale, pointing to regional institutional demand even when retail samples reduced the exposure.
Historically, South Korea has been a driving force for speculative crypto trade, often leading pricing in certain altcoins (sometimes called the “Kimchi Premium” effect).
If large wallets associated with Korean stock exchanges or institutions accumulate in support, it suggests that regional demand comes in to absorb retail sales, which effectively puts a floor under XRP.
For global dealers who put a story about distribution vs. Accumulation: While some whales moved $ 200 million in DOGE to Binance (a distribution signal), Korean desks added XRP exposure (an accumulation signal).
XRP Ledger activity rose with active addresses climbing 20% in three days prior to September 12 decentralized media launch.
Chinese fintech company Linklogis integrated its trillion dollars supply chain Financing platform with XRP Ledger, which increased its equity 23% and emphasized business recording.
Summary of Price Action
XRP slipped from $ 3.02 to $ 2.89 in the 24-hour window, a fall of 4.30% across a $ 0.17 (5.75%) between $ 3.02 top and $ 2.85 low.
Heavy sale at. 15:00 GMT On August 28, prices ran down to $ 2.77 of 96.19 million volume, more than twice the 24-hour average of 43.48 million.
Purchase of support appeared up to $ 2.85- $ 2.86, with volumes over baseline below 07: 00-09: 00 GMT RECOVERY PUSH ATTEND 29.
In the last hour (11: 56–12: 55 GMT), XRP jumped from $ 2.87 to $ 2.89 and affected $ 2.91 at. 12:31 on a 19.6 million spikes.
Technical analysis
Support: Key base for $ 2.77, reinforced by strong volume absorption; $ 2.85- $ 2.86 now functions as an accumulation zone.
Resistance: $ 2.91 short -term cap; $ 3.02 remains the dominant ceiling from repeated rejection.
Momentum: RSI is lifted from 42 (oversold) into the mid -50s and shows the recovery momentum.
Macd: Histogram that is tightened against a Bullish crossover, indicating potential upside if buyers maintain pressure.
Patterns: Symmetrical triangles and double-bottom setups match with a wider cup-and-handle formation that some analysts see that extend against $ 5- $ 13 goals.
Which dealers are looking at
Whether $ 2.85- $ 2.86 Support continues to keep up against renewed sales.
A confirmed break over $ 3.02- $ 3.04 Resistance as the first trigger for a race against $ 3.20.
The disadvantage risks are open if $ 2.77 fails, with $ 2.70 as the next support.
Institutional accumulation of Korean exchanges and business flows remains the most important driving force to maintain momentum in September’s event calendar.
