News Background XRP rose 3% in the 24-hour window from Sept. 1 at 03:00 to Sept. 2 at 02:00, moving between $2.70–$2.83 on 5% intraday volatility. Institutional activity dominated early hours, with 164.9M XRP traded at 07:00–08:00 GMT , almost double the 24-hour average of 86M. Whales accumulated 340M tokens (~$960M) over the past two weeks, signaling conviction despite broader market weakness. Seasonal September softness and regulatory uncertainty remain key headwinds. Spot XRP ETF applications from Grayscale, Bitwise, and others are pending with U.S. regulators. Analysts are split: some flag downside risks toward $1.00 after the July $3.65 peak, while others point to long-term breakout setups with $7–$8 targets. Price Action Summary XRP opened near $2.74 and advanced to a morning high of $2.83 on heavy volume before fading to $2.77 by session close. Support repeatedly held at $2.70–$2.74 , while $2.83 was rejected as short-term resistance. Late session (23:18–00:17 GMT) saw a 0.68% move from $2.74 to $2.77, with 2M+ tokens per minute traded during peak bursts, confirming institutional flows. Technical Analysis Support : $2.70–$2.74 established as the near-term floor. Resistance : $2.83 is the immediate ceiling; $3.00–$3.30 remains the broader breakout band. Momentum : RSI stable in mid-50s, indicating neutral-to-bullish bias. MACD : Histogram converging toward bullish crossover as accumulation builds. Patterns : Symmetrical triangle with consolidation under $3.00; break above $3.30 could target $4.00+. Volume : Early-session spike to 164.9M signaled whale participation, later fading to 21.7M as retail dominated. What Traders Are Watching Institutional accumulation vs. analyst calls for a cycle top — which side defines September’s trajectory. Pending ETF rulings as potential catalysts for inflows. Breakout scenario: reclaim $2.83, then test $3.00–$3.30. Breakdown scenario: lose $2.70 floor, exposing $2.50.
