Token trades between $ 2.70- $ 2.84 in August 31 – September 1 window, with whale accumulation that counteracts powerful resistance to $ 2.82- $ 2.84.
News Background
- XRP fell from $ 2.80 to $ 2.70 at the end of August 31 – early 1 September, before rebounded to $ 2.82 on heavy quantities.
- Whales accumulated 340m xrp over two weeksA signal of institutional beliefs despite short -term bearish pressure.
- Activity on the chain spiked with 164 m tokens traded under 1 September -reboundMore than double session average.
- September remains a historically weak month for crypto, but whale accumulation is considered a counterbalance to retail fluid streams.
Summary of Price Action
- Trading Range spans over $ 0.14 (≈4.9%) between $ 2.70 low and $ 2.84 high.
- The steepest decline came at. 23:00 GMT on August 31 when the price slipped from $ 2.80 to $ 2.77 at 76.87 m VolumeAlmost 3x daily average.
- At. 07:00 GMT 1. 164 m Volumecementing of $ 2.70- $ 2.73 as a short -term support.
- Finally Times Consolidation (10: 20-11: 19 GMT) So price miss 0.71% from $ 2.81 to $ 2.79, with vigorous sales between 10: 31-10: 39 on 3.3 m Volume per Minuteconfirms resistance to $ 2.80- $ 2.81.
Technical analysis
- Support: $ 2.70- $ 2.73 floor defended repeatedly, reinforced by whale purchase.
- Resistance: $ 2.80- $ 2.84 remains the rejection zone with $ 2.87- $ 3.02 as the next upward threshold.
- Momentum: RSI near the mid-40s after rebound showing neutral-to-bearing bias.
- Macd: Compression phase continues; Potential crossover if accumulation persists.
- Patterns: Symmetrical triangle formed with volatility compression; The Breakout path remains open against $ 3.30 if the resistance clears.
Which dealers are looking at
- If $ 2.70- $ 2.73 applies, short -term dealers will treat it as a springboard for $ 2.84 gene test.
- A close over $ 2.84 would put $ 3.00- $ 3.30 back in the game.
- Disadvantage scenario: Violation of $ 2.70 postponing $ 2.50 as the next structural support.
- Whale accumulation vs. Institutional sales-the push-pull dynamics that could dictate September direction.
