The XRP struggled to maintain momentum over the threshold of $ 3.00 on 9-10. September with heavy institutional that sells annihilation of early gains. Despite a push for $ 3,035, volume -driven liquidation upside down and withdrew the asset to $ 2.94 after session close.
The move is signs of mounting resistance near $ 3.02, even when dealers weigh ETF catalysts and rising exchange reserves that can temper bullish momentum.
News Background
• The Federal Reserve’s 17 September meeting is expected to deliver a 25-base-point rate cut, where markets allocate almost cross-adjustment to the result-a potential liquidity driver for risk assets.
• Six XRP Spot ETF applications await SEC review in October, a decision -making dealer sees as an important for institutional adoption.
• Exchange of custody of XRP hit a 12-month top, which raised concerns about sales pressure in the short term despite whale accumulation patterns in recent weeks.
• Analysts notice parallels with XRP’s Breakout -Fiasko in July, suggesting that the market structure is again tested at the $ 3.00 barrier.
Summary of Price Action
• XRP acted in a $ 0.10 band (2.9%) From $ 2,935 to $ 3,035 between September 9 at. 03:00 and 10 September at. 02:00.
• Token went on to $ 3,035 during the morning trade, but faced immediate rejection near $ 3.02 resistance.
• A 14:00 Salgoff dropped XRP from $ 3,018 to $ 2,956 at 165.67 m Volume – almost tripled the daily average.
• Price consolidated in the closure between $ 2.94 and $ 2.96, with muted activity an average of 650K volume per Minute.
Technical analysis
• Resistance: $ 3.02- $ 3.04 level uncovered upside down with multiple refusal of high volume.
• Support: $ 2.94 zone tested and held, suggesting accumulation of institutional players.
• Momentum: RSI shows early bullish divergence, but exchange reserves at heights weigh after follow -up.
• Structure: Failed breakout involves consolidation within $ 2.94- $ 3.00 unless volume returns.
• Area: 3% intradag swings highlight institutional driven volatility.
Which dealers are looking at
• Whether XRP can maintain closes over $ 2.95 to build momentum for a $ 3.02 breakout.
• Exchange of detention balances at 12-month height-will influx converters to sustained sales pressure?
• SECS ETF decisions in October that could act as a structural catalyst whose approvals land.
• Fed’s decision on September 17th cuts, with dealers who position its influence on dollar liquidity.
• Whale flow – 340 m -tokens accumulated in recent weeks – and whether you buy shear exchange distribution.
