Bullish Technicals and Korean Buying Push XRP Toward $5 Zone

XRP Bounces as Korean Buyers Absorb Selling Pressure

XRP dropped 4.3% from $3.02 to $2.89 in a volatile 24-hour period on Aug. 28–29, before stabilizing near $2.83–$2.89. Elevated trading volumes suggest that while retail investors reduced exposure, Korean exchanges absorbed roughly 16 million XRP (~$45.5 million), pointing to strong regional institutional demand.

Network activity also surged, with active XRP Ledger addresses rising 20% over three days ahead of the Sept. 12 Decentralized Media launch. Meanwhile, Chinese fintech Linklogis integrated its trillion-dollar supply-chain financing platform with XRP Ledger, driving a 23% jump in its equity and underscoring growing enterprise adoption.

Technical Overview

• Support: $2.77 remains a key floor; $2.85–$2.86 shows strong accumulation.
• Resistance: Short-term ceiling at $2.91, with $3.02–$3.04 limiting upside.
• Momentum & Patterns: RSI rebounded from 42 to mid-50s, signaling recovery; MACD is nearing a bullish crossover. Chart formations, including double bottoms and symmetrical triangles, align with a potential cup-and-handle toward $5–$13.

Market Watchpoints
Investors are monitoring whether $2.85–$2.86 support persists. Breaking $3.02–$3.04 could pave the way to $3.20, while falling below $2.77 risks a decline toward $2.70. Institutional flows from Korean exchanges and corporate wallets remain the primary driver for XRP’s near-term momentum.