XRP Symmetrical Triangle Forms Under $3.00, $3.30 Breakout Level in Focus

News Background

• XRP traded successful a constrictive 2% scope from $2.81 to $2.87 during the 24h league from Sept. 2 astatine 14:00 to Sept. 3 astatine 13:00.
• Large wallets accumulated astir 340M XRP (~$960M) implicit the past 2 weeks adjacent arsenic institutions liquidated ~$1.9B since July.
• Total transaction measurement crossed the XRP Ledger reached 2.15B XRP connected Sept. 1, much than treble emblematic regular activity.
• Analysts stay split: immoderate item semipermanent bullish structures (symmetrical triangles, Elliott Wave counts) with upside toward $7–$13, portion others pass of fading momentum beneath multi-year absorption trendlines.

Price Action

• XRP opened adjacent $2.84 and closed astatine $2.85, up somewhat contempt intraday volatility.
• Price dipped aboriginal from $2.84 → $2.79, past rebounded to $2.87 by midday connected Sept. 3.
• Support developed astatine $2.82, repeatedly attracting bids.
• Resistance capped upside adjacent $2.86, wherever organisation unit intensified.
• Final-hour trading saw a reversal: a spike to $2.873 (12:38 GMT) connected 5.38M volume was rejected, pushing terms backmost nether $2.85.

Technical Analysis

• Support: $2.82 portion remains the cardinal request area. Below that, $2.70 and $2.50 are next.
• Resistance: $2.86–$2.88 continues to enactment arsenic overhead supply. $3.00 is the intelligence hurdle, with $3.30 arsenic breakout confirmation.
• Momentum: RSI dependable successful mid-50s, showing neutral bias with flimsy bullish lean.
• MACD: Histogram converging toward bullish crossover, signaling momentum could fortify if measurement persists.
• Patterns: Symmetrical triangle consolidation nether $3.00 intact. Break supra $3.30 unlocks higher targets.
• Volume: Session surges (93M–95M vs 44M avg) constituent to progressive organization flows.

What Traders Are Watching

• Whether $2.82 support holds nether renewed pressure.
• A decisive adjacent supra $2.86–$2.88, past $3.00 and $3.30 for a breakout setup.
• Whale flows: continued accumulation versus ongoing organization selling.
• Regulatory and macro catalysts, including Fed argumentation and pending SEC clarity, which could displacement sentiment quickly.