XRP rallied intraday, climbing from about $2.83 to $2.88 and briefly testing $2.92 on volume roughly six times the daily average. Buyers defended the $2.86 area, but repeated rejections in the $2.90–$2.92 zone capped the advance. With markets pricing a near-certain Fed rate cut ahead of the September 17 meeting, institutional inflows remain elevated, leaving XRP consolidating directly beneath an important resistance band. News Background
• Futures show roughly a 99% probability of a 25-basis-point cut at the September 17 FOMC meeting.
• Rising U.S.–China trade tensions have increased market volatility and pushed some risk capital into crypto.
• Analyst “Dom” reported roughly +10 million XRP of net buys over a 15-minute window during the breakout.
• Technical views are mixed: some weekly indicators point to bearish divergence, while other analysts project bullish breakouts with targets up to $4.50.
Price Action Summary
• Over the Sept.
7–8 session XRP rose about 3%, trading inside a tight $0.10 band between $2.83 and $2.92.
• At 14:00 (Sept.
7) a breakout leg pushed the price from $2.85 to $2.92 on 231.25M in volume — approximately 6× the 24-hour average.
• The $2.86 level was defended through multiple retests, suggesting buying interest at that floor.
• The $2.90–$2.92 range acted as a clear resistance zone that repeatedly stalled upside attempts.
• In the final hour the token slipped roughly 1% from $2.88 to $2.87, and a sharp 2.1M volume spike at 02:20 effectively capped the rally.
Technical Analysis
• Trading range: $0.10 (about 4% intraday volatility) between $2.83 and $2.92.
• Support: $2.86 remains the primary short-term floor; repeated defenses indicate accumulation at that level.
• Resistance: $2.90–$2.92 has consistently capped advances.
• Momentum indicators: RSI sits in the mid-50s, implying a neutral-to-slightly-bullish bias.
• MACD: the histogram is narrowing toward a bullish crossover, aligning with signs of accumulation.
• Chart pattern: price action resembles a descending triangle beneath $3.
A decisive break above $3.30 would likely open targets in the $4.00–$4.50 area.
What Traders Are Watching
• Short-term: sustained daily closes above $2.90 are the immediate focus.
A confirmed move above that band could open space for a run toward $3.00–$3.30.
Repeated failures would reinforce the ceiling and could invite fresh selling.
• Macro: the Fed’s Sept.
17 meeting is a major event — any change in the expected rate trajectory will affect dollar liquidity and, by extension, crypto flows. • Order flow: on-chain and exchange monitoring shows about 340 million XRP reported as accumulated in recent weeks.
Continued large-scale buying would help underpin the consolidation; if accumulation slows, bullish conviction could fade. • Regulatory calendar: the SEC’s October decisions on spot XRP ETF applications remain a medium-term catalyst. Approval could unlock institutional demand via ETF vehicles; delays or denials could dampen sentiment and limit upside around the $3 level.
