XRP Sees 3% Rise Amid Increased Institutional Trading Activity

XRP Market Overview

XRP increased by 3% from September 1 to September 2, trading between $2.70 and $2.83 with 5% intraday volatility.
Institutional trading peaked at 164.9M XRP during 07:00–08:00 GMT, nearly double the daily average of 86M.
Whales accumulated 340M tokens (~$960M) over two weeks, indicating confidence amid market weakness.
September brings seasonal softness and regulatory uncertainty, with pending spot XRP ETF applications from Grayscale, Bitwise, and others.
Analysts exhibit divided views on future price, with some forecasting a drop to $1.00 and others targeting long-term highs of $7–$8.

XRP opened near $2.74, peaked at $2.83 on high volume, then closed at $2.77.
Support held at $2.70–$2.74, while resistance was noted at $2.83.
A late session move saw prices rise 0.68% from $2.74 to $2.77, with over 2M tokens traded per minute at peak times.

Support: $2.70–$2.74 identified as the near-term floor.
Resistance: Immediate ceiling at $2.83; broader breakout range is $3.00–$3.30.
Momentum: RSI stable in mid-50s suggests neutral-to-bullish bias.
MACD: Histogram approaching bullish crossover with increasing accumulation.
Patterns: Symmetrical triangle consolidation under $3.00; a break above $3.30 could target $4.00+.
Volume: Initial spike to 164.9M indicates whale activity, tapering to 21.7M as retail traders took over.

Institutional accumulation versus analyst predictions for a cycle peak will influence September's market direction.
Pending ETF decisions may act as catalysts for inflows.
Breakout scenario: reclaim $2.83 and test $3.00–$3.30.
Breakdown scenario: drop below $2.70, potentially exposing $2.50.