3 hours ago
XRP struggled to support momentum supra the $3.00 threshold connected September 9–10, with dense organization selling wiping retired aboriginal gains. Despite a propulsion to $3.035, volume-driven liquidation erased upside attempts and pulled the plus backmost to $2.94 by league close.
The determination is indicative of mounting absorption adjacent $3.02, adjacent arsenic traders measurement ETF catalysts and rising speech reserves that whitethorn temper bullish momentum.
News Background
• Federal Reserve’s September 17 gathering is expected to present a 25-basis-point complaint cut, with markets assigning near-certainty to the result — a imaginable liquidity operator for hazard assets.
• Six XRP spot ETF applications await SEC reappraisal successful October, a determination traders spot arsenic pivotal for organization adoption.
• Exchange custody balances for XRP deed a 12-month peak, raising concerns astir near-term selling unit contempt whale accumulation patterns successful caller weeks.
• Analysts enactment parallels to XRP’s July breakout failure, suggesting marketplace operation is again being tested astatine the $3.00 barrier.
Price Action Summary
• XRP traded successful a $0.10 set (2.9%) from $2.935 to $3.035 betwixt September 9 astatine 03:00 and September 10 astatine 02:00.
• Token precocious to $3.035 during greeting trading but faced contiguous rejection adjacent $3.02 resistance.
• A 14:00 selloff dropped XRP from $3.018 to $2.956 connected 165.67M measurement — astir triple the regular average.
• Price consolidated into the adjacent betwixt $2.94 and $2.96, with subdued enactment averaging 650k measurement per minute.
Technical Analysis
• Resistance: $3.02–$3.04 level capped upside, with aggregate rejections connected precocious volume.
• Support: $2.94 portion tested and held, suggesting accumulation by organization players.
• Momentum: RSI shows aboriginal bullish divergence, but speech reserves astatine highs measurement connected follow-through.
• Structure: Failed breakout implies consolidation wrong $2.94–$3.00 unless measurement returns.
• Range: 3% intraday swings item institutional-driven volatility.
What Traders Are Watching
• Whether XRP tin prolong closes supra $2.95 to physique momentum for a $3.02 breakout.
• Exchange custody balances astatine 12-month highs — volition inflows person to sustained selling pressure?
• SEC’s October ETF rulings, which could enactment arsenic a structural catalyst if approvals land.
• Fed’s September 17 complaint chopped decision, with traders positioning for its interaction connected dollar liquidity.
• Whale inflows — 340M tokens accumulated successful caller weeks — and whether buying offsets speech distribution.
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