6 hours ago
The integer plus rallied toward the $3.00 threshold connected explosive measurement earlier consolidating, arsenic traders positioned astir upcoming macro catalysts and ETF rulings. Support has held steadfast supra $2.88, but repeated failures adjacent $2.99 item however organization flows are dictating short-term ranges.
News Background
- Federal Reserve futures present connote a 99% accidental of a 25-bps chopped connected September 17, boosting crypto arsenic a dollar-weakening trade.
- Exchange reserves roseate to a 12-month peak, signaling much proviso connected exchanges adjacent arsenic whales accumulated an estimated 10M XRP successful 15 minutes during the breakout.
- Six spot XRP ETF applications are pending SEC reappraisal successful October, a structural catalyst traders are monitoring.
Price Action Summary
- Session ran from September 8 04:00 to September 9 03:00.
- XRP precocious from $2.89 to $2.995 intraday (+4%) earlier closing astatine $2.95.
- Volume spiked to 159.63M astatine 13:00—nearly 3x regular norms—confirming organization participation.
- Support held aggregate times astatine $2.88–$2.89, portion $2.995–$3.00 was repeatedly rejected.
- Final hr saw a grind higher: $2.94 → $2.95 (+0.34%) connected 1.6M volume, with higher lows showing controlled accumulation.
Technical Analysis
- Support: $2.88–$2.89 portion continues to pull buyers.
- Resistance: $2.995–$3.00 ceiling remains intact aft aggregate high-volume rejections.
- Momentum: RSI dependable successful mid-50s = neutral-to-bullish bias.
- MACD: Histogram converging toward bullish crossover, accordant with accumulation.
- Pattern: Price compressing wrong a consolidation transmission nether $3.00. A confirmed adjacent supra $3.00–$3.05 could people $3.30–$3.50.
What Traders Are Watching
- Ability to adjacent supra $2.99–$3.00. Bulls privation a cleanable regular colony supra the portion to flip absorption into support.
- Fed gathering connected Sept. 17. A 25-bps chopped is afloat priced; thing larger oregon delayed could change crypto liquidity expectations sharply.
- Whale inflows. Roughly 340M tokens reportedly accumulated successful caller weeks. Traders are gauging whether this continues into ETF determination season.
- SEC’s October ETF rulings. Six applications, including from Grayscale and Bitwise, could alteration organization entree and reprice XRP’s structural demand.
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