XRP Holds Above $2.82 After Sharp Decline, Technicals Point to $3.30 Breakout Test

XRP failed to sustain momentum above $2.88–$2.89, triggering a 4% decline as institutional selling capped the advance. Heavy volume confirmed resistance at those levels, while buyers reappeared in the $2.81–$2.83 range to stabilize price action. The move keeps XRP locked in a 47-day consolidation under $3.00, with traders now eyeing the $2.77 support pivot and October’s SEC ETF decisions as the next catalysts.

News Background

Six institutional asset managers have filed spot XRP ETF applications, with SEC decisions expected in October.Whale accumulation continues, with roughly 340 million tokens purchased in recent weeks despite persistent volatility.Exchange balances remain elevated above 3.5 billion XRP, raising questions of potential supply pressure if selling resumes.Federal Reserve policy shifts and inflation prints are shaping broader liquidity conditions across risk assets.Previous attempts to break higher saw 227.7 million tokens trade near $2.88–$2.89, confirming that zone as firm resistance.

Price Action Summary

XRP traded within a $0.08 range from $2.81 to $2.89, representing 3% volatility.The sharpest decline came at 14:00 on Sept 5, dropping from $2.88 to $2.81 on nearly 280 million tokens traded.Stabilization followed, with consolidation between $2.82 and $2.83 on lighter volume.Closing price near $2.82 kept XRP just above the $2.77 support pivot, viewed as the next key downside guardrail.

Technical Analysis

Support: Strong bid zone identified at $2.77–$2.81 following repeated defenses.Resistance: Immediate ceiling at $2.88–$2.89, with $3.00 psychological level and $3.30 breakout threshold above.Indicators: RSI sits mid-50s, reflecting neutral-to-bullish bias.MACD histogram converges toward bullish crossover, signaling possible momentum shift if volume returns.Structure: Ongoing 47-day consolidation under $3.00, with a close above $3.30 opening potential path to $4.00+.

What Traders Are Watching

Whether $2.77 holds as the decisive support level if selling resumes.Price behavior on retests of $2.88–$2.89 resistance, particularly if volume surpasses daily averages.How whale accumulation offsets elevated exchange balances, which suggest latent supply risk.October SEC decisions on spot XRP ETFs, viewed as a key institutional adoption catalyst.Macro drivers from Fed policy and inflation data releases that may influence flows across digital assets.