XRP remains range-bound just under $3.00 after a heavy-volume rally that stalled near the $2.99–$3.00 ceiling. Buyers repeatedly defended the $2.88–$2.89 area, suggesting demand is intact, but multiple rejections show institutional flows are shaping intraday ranges.
Macro signals are adding fuel to the move: Federal Reserve futures now price a roughly 99% chance of a 25-basis-point rate cut on Sept. 17, weakening the dollar and improving the appeal of crypto as a risk asset. At the same time, exchange reserves hit a 12-month high — an offsetting sign of greater sell-side supply — even as on-chain data flagged a rapid whale accumulation of about 10 million XRP during the breakout.
In the latest session (Sept. 8–9), XRP ran from $2.89 to an intraday high near $2.995 (+4%) before settling around $2.95. Volume spiked to roughly 159.6 million at the peak — almost three times typical hourly norms — which points to institutional participation rather than a retail squeeze. The last hour’s grind up to $2.95 on subdued volume shows controlled accumulation and higher lows.
Technical view: Support remains at the $2.88–$2.89 zone, while $2.995–$3.00 is the key resistance to clear. RSI sits in the mid-50s, signaling a neutral-to-bullish tilt, and the MACD histogram is converging toward a bullish cross. Price is compressing in a consolidation channel; a confirmed daily close above $3.00–$3.05 would open targets toward $3.30–$3.50.
What traders are watching — clean daily settlement above $3.00, the Sept. 17 Fed decision, and the SEC’s October review of six spot XRP ETF filings. Continued whale accumulation or rising exchange outflows would strengthen a breakout thesis, while renewed selling pressure on exchanges could keep the token capped under $3.00.
Risk note: Macro events and regulatory decisions (including ETF rulings) can rapidly change liquidity and price; use prudent trade sizing and risk management. Source: CoinDesk. Read the original coverage for full details.