XRP has managed to hold its $2.80 support despite a sharp 4% drop over the past 24 hours, falling from $2.85 to $2.75 in the Aug. 31–Sept. 1 trading session.
The sell-off was fueled by institutional liquidations totaling $1.9 billion since July, but whale investors took the opposite stance, scooping up 340 million XRP worth nearly $962 million during the dip.
This accumulation suggests that large holders view current prices as a strategic entry point, even as short-term traders exit positions. Data also shows $268 million in XRP leaving exchanges, reinforcing the view that long-term investors are tightening supply in anticipation of future gains.
From a technical perspective, XRP’s immediate support lies between $2.75–$2.77, with resistance seen at $2.80–$2.87. Analysts note that a close above $2.87 could open the path toward $3.30, a critical breakout zone that could trigger further momentum.
Momentum indicators back the bullish case. The Relative Strength Index (RSI) has dipped into oversold territory, while MACD compression hints at a potential bullish crossover.
Funding rates have also flipped positive, and open interest in XRP derivatives now stands above $8 billion, signaling that traders are positioning for upward moves. If buying pressure holds and September’s seasonal weakness is overcome, XRP could mount a recovery rally toward the $4 region.
XRP’s ability to defend $2.80, supported by nearly $1 billion in whale accumulation, strengthens the case for a potential breakout. If resistance levels fall, a run toward $4 may be closer than many expect, though September volatility and regulatory headwinds remain key risks.
Cover image from ChatGPT, XRPUSD chart from Tradingview
