Despite Sharp Decline, XRP Trades Above $2.82 With $3.30 Resistance in Sight

XRP continues to consolidate below $3.00, extending a 47-day rangebound structure as traders monitor the $2.77 support pivot and the SEC’s upcoming October rulings on spot ETF applications.

Price Action

Attempts to break higher stalled last week when XRP failed to sustain above the $2.88–$2.89 resistance zone. A sharp 4% drop followed, with nearly 280 million tokens traded as price fell from $2.88 to $2.81 at 14:00 UTC on Sept. 5. Buyers reappeared near $2.82, keeping the token just above key support at $2.77.

The session saw XRP trade in a tight $0.08 range, reflecting low volatility and reinforcing the consolidation pattern.

Market Factors

• ETF Filings: Six spot XRP ETF applications remain under SEC review, with decisions expected in October.
• Whale Accumulation: Roughly 340 million XRP have been purchased in recent weeks despite volatility.
• Exchange Reserves: Balances above 3.5 billion tokens raise the risk of renewed supply pressure.
• Macro Backdrop: Fed policy shifts and inflation readings continue to influence liquidity across digital assets.

Technical Picture

• Support: $2.77–$2.81 zone remains the critical downside defense.
• Resistance: $2.88–$2.89 forms the immediate ceiling; $3.00 is the next psychological barrier, with $3.30 as the breakout trigger.
• Indicators: RSI sits in the mid-50s with a neutral-to-bullish tilt. MACD is nearing a bullish crossover.
• Outlook: A decisive close above $3.30 could clear the path toward $4.00+, while failure to hold $2.77 risks further downside.

Key Watchpoints

• Strength of the $2.77 support pivot.
• Reactions to retests of $2.88–$2.89 resistance.
• Whether whale accumulation offsets high exchange balances.
• The SEC’s October ETF rulings as the next major catalyst.
• Broader risk sentiment tied to U.S. monetary policy and inflation data.