XRP Trading Idea: Neutral RSI and Symmetrical Triangle Support $3.30 Breakout

2 hours ago

News Background

XRP traded successful a volatile 23-hour league from Sept. 2 astatine 03:00 to Sept. 3 astatine 02:00, moving betwixt $2.76 and $2.86.
Geopolitical and monetary argumentation uncertainty proceed to thrust volatility crossed crypto markets. Fed rate-cut expectations stay successful flux aft ostentation information releases, adding to liquidity stress.
Whale accumulation of 340M XRP ($960M) implicit the past 2 weeks suggests institutions are positioning connected weakness contempt broader selling since July.
Analysts stay split: immoderate emblem downside risks toward $2.50 if $2.76 breaks, portion others mention semipermanent breakout setups with targets supra $4.00 if $3.30 absorption clears.

XRP opened adjacent $2.79 and closed astir $2.82, up 2% connected the session.
Intraday debased astatine $2.76 (12:00 GMT) was rapidly defended with measurement spikes supra 180M, good supra the 24h mean of 78M.
Price past precocious to $2.86 during the 13:00–14:00 recovery, establishing resistance.
Final hr saw different propulsion from $2.83 to $2.86 with 3M+ tokens per infinitesimal traded, confirming organization participation.

Support: $2.76–$2.78 defended connected dense volume. Next downside guardrails beryllium astatine $2.70 and $2.50.
Resistance: $2.86 near-term cap; $3.00 and $3.30 stay cardinal breakout levels.
Momentum: RSI dependable successful mid-50s, showing neutral-to-bullish bias.
MACD: Histogram converging toward bullish crossover, supportive of accumulation thesis.
Patterns: Symmetrical triangle nether $3.00 remains intact. Higher lows constituent to increasing unit for a breakout if $2.86 is cleared.

Can $2.76 proceed to clasp nether repetition tests, oregon does a breakdown unfastened $2.50 risk?
A sustained adjacent supra $2.86, past $3.00, arsenic signals for momentum continuation.
Whale and ETF-related flows: October deadlines for spot ETF rulings could enactment arsenic a catalyst.
Whether measurement remains elevated oregon fades backmost toward averages, determining spot of the breakout setup.