XRP Breaks Key $2.80 Level in Weak September, Charts Suggest Upside May Follow

XRP Dips to $2.75 as September Opens Bearish, But Whale Accumulation Suggests Recovery Potential

XRP slipped from $2.85 to $2.75 in the Aug. 31–Sept. 1 session, with short-term selling around $2.80 offset by long-term holders adding 340 million tokens, highlighting a contrast between institutional liquidations and whale accumulation.

Market Context
Since July, institutional liquidation flows have totaled $1.9 billion, fueling volatility and seasonal caution. September is historically a weak month for crypto, while ongoing regulatory scrutiny in the U.S. adds to investor hesitation.

On-chain data shows XRP Ledger activity trending higher, with symmetrical triangle formations reminiscent of pre-breakout patterns seen in 2017. Liquidity clusters near $4.00 could support an amplified upside if resistance levels are broken.

Price Action Summary

• Sharpest decline: Aug. 31, 23:00 GMT — XRP fell from $2.80 to $2.77 on 76.87 million volume, nearly triple the daily average.
• Support tested: Sept. 1, 01:31–02:30 GMT — price dipped from $2.77 to $2.75, with over 10 million tokens traded per minute.
• Intraday high: Briefly touched $2.87 before retreating under institutional selling pressure.

Technical Overview

• Support: $2.75–$2.77 immediate base; $2.50 and $2.00 critical long-term levels.
• Resistance: $2.80–$2.87 short-term ceiling; $3.30 is the key breakout target.
• Momentum indicators: RSI stabilized in mid-40s, signaling oversold conditions; MACD shows bearish divergence but hints at a potential reversal.
• Patterns: Symmetrical triangle and double-bottom structures align with a broader cup-and-handle formation, suggesting potential upside to $5–$13 if key resistance is breached.
• Volume: High selling at $2.80 confirmed distribution, while whale accumulation underpins potential recovery.

Key Considerations for Traders

• Will $2.75 hold as a new floor in early September trading?
• A close above $2.87 could spark a rally toward $3.30.
• Institutional selling versus whale accumulation remains a critical driver.
• Seasonal weakness in September may challenge bullish structural setups pointing to higher targets.