XRP Shows Neutral RSI and Symmetrical Triangle Ahead of $3.30 Breakout

Market Overview

XRP experienced volatility from Sept. 2 to Sept. 3, trading between $2.76 and $2.86.
Geopolitical and monetary policy uncertainties are impacting crypto market volatility, with Fed rate-cut expectations fluctuating due to recent inflation data.
Whale accumulation of ~~340M XRP (~~$960M) in two weeks indicates institutional positioning despite overall market selling since July.
Analysts have mixed views: some see potential downside to $2.50 if $2.76 is breached, while others target long-term gains above $4.00 if resistance at $3.30 is surpassed.

XRP opened at $2.79 and closed at $2.82, marking a 2% increase for the session.
Intraday low of $2.76 (12:00 GMT) was defended with volume exceeding 180M, significantly higher than the average of 78M.
Price rose to $2.86 during the recovery period from 13:00 to 14:00, establishing a resistance level.
The final hour saw an increase from $2.83 to $2.86 with over 3M tokens traded per minute, indicating strong institutional interest.

Support levels: $2.76–$2.78, with further support at $2.70 and $2.50.
Resistance levels: Near-term cap at $2.86; key breakout points at $3.00 and $3.30.
Momentum indicators: RSI remains in the mid-50s, reflecting a neutral-to-bullish sentiment.
MACD analysis: Histogram approaching bullish crossover, supporting the accumulation narrative.
Chart patterns: Symmetrical triangle below $3.00 suggests upward pressure for a breakout if $2.86 is exceeded.

Monitoring the strength of support at $2.76 under repeated tests; a breakdown could lead to $2.50 risk.
A sustained closing above $2.86 and then $3.00 may indicate continued momentum.
Tracking whale and ETF-related flows as October spot ETF rulings approach, which could serve as a market catalyst.
Observing whether trading volume remains high or reverts to average levels, impacting the breakout setup's strength.