XRP failed to maintain the momentum greater than $ 2.88 to $ 2.89, triggering a drop of 4%, the institutional sale capped the advance. The heavy volume confirmed the resistance to these levels, while buyers reappeared in the range of $ 2.81 to $ 2.83 to stabilize prices.
This decision maintains XRP locked in a consolidation of 47 days of less than $ 3.00, the traders now considering the support pivot of $ 2.77 and the Dry ETF decisions of October as the following catalysts.
New context
- Six institutional asset managers filed ETF XRP requests to the accountant, with dry decisions expected in October.
- The accumulation of whales continues, with around 340 million tokens bought in recent weeks despite persistent volatility.
- The exchange balances remain high above 3.5 billion XRP, which raises questions of potential supply pressure if the sale of curriculum vitae.
- Changes in the federal reserve policy and inflation prints shape wider liquidity conditions between risk assets.
- Previous attempts to break up above 27.7 million tokens are negotiating nearly $ 2.88 to $ 2.89, confirming this area as firm resistance.
Summary of price action
- XRP exchanged in a range of $ 0.08 from $ 2.81 to $ 2.89, which represents a volatility of 3%.
- The highest decline occurred at 2:00 p.m. on September 5, from $ 2.88 to $ 2.81 on almost 280 million tokens exchanged.
- Stabilization followed, with a consolidation between $ 2.82 and $ 2.83 over a lighter volume.
- The fence price almost $ 2.82 maintained XRP just above the $ 2.77 support pivot, considered the next keys to the railing.
Technical analysis
- Support: a solid offer area identified at $ 2.77 at $ 2.81 after repeated defenses.
- Resistance: Immediate ceiling of $ 2.88 to $ 2.89, with a psychological level of $ 3.00 and a breakthrough threshold of $ 3.30 above.
- Indicators: RSI was in the mid -1950s, reflecting neutral bias in evil.
- The MacD histogram converges towards the Haussier crossing, signaling a possible change of momentum if the volume returns.
- Structure: Consolidation during 47 days in less than $ 3.00, with a fence greater than $ 3.30 opening the opening path to $ 4.00 +.
What traders look at
- Whether $ 2.77 is the decisive level of support if the sale of curriculum vitae.
- Price behavior on repetitions from $ 2.88 to $ 2.89 Resistance, especially if the volume exceeds daily averages.
- How the accumulation of whales compensates for the high exchange sales, which suggest a risk of latent supply.
- October decisions on ETF XRP Spot, considered as a key institutional adoption catalyst.
- Macro drivers from data versions on policy and inflation that can influence flows between digital assets.
