CoinDesk
Sep 8, 2025
4 0

XRP Consolidates Under $3 Amid Descending Triangle Pattern

XRP Price Movement

  • XRP rose from $2.83 to $2.88, briefly testing $2.92 on high volume.
  • Support held at $2.86; resistance capped between $2.90–$2.92.
  • Fed rate cut expectations are strong ahead of the September 17 meeting.

Market Context

  • Futures markets indicate a 99% chance of a 25-basis-point rate cut.
  • U.S.-China trade tensions increased volatility and risk flows into crypto.
  • Analyst identified over 10 million XRP net buys during breakout.
  • Technical indicators show mixed signals with bearish divergences and bullish targets of $4.50.

Price Action Summary

  • XRP advanced 3% between September 7–8, trading within a $0.10 range.
  • Breakout on September 7 lifted price on significant volume (231.25M).
  • Resistance solidified at $2.90–$2.92; final pullback saw XRP drop 1%.

Technical Analysis

  • Trading range: $0.10 (4% volatility).
  • Key support at $2.86 shows accumulation.
  • Resistance at $2.90–$2.92 limits rallies.
  • RSI indicates neutral-to-bullish bias; MACD trending toward bullish crossover.
  • Descending triangle pattern suggests potential targets up to $4.00–$4.50 above $3.30.

Traders' Focus

  • Sustained closes above $2.90 are critical for further movement towards $3.00–$3.30.
  • The upcoming Fed meeting is anticipated to impact dollar liquidity and crypto flows.
  • Whale activity reported with 340 million XRP accumulated; this could influence market stability.
  • SEC decisions on spot XRP ETF applications in October may serve as a long-term catalyst.