XRP Faces Pullback as Whales Offload 160 Million Tokens

Ripple's XRP experienced a pullback after a weekend rally, with large holders selling approximately 160 million XRP tokens, valued at $500 million.
XRP exchange reserves have increased by 20% since the start of September, suggesting potential short-term sell-offs as more tokens move to exchanges.
XRP reached a monthly high of $3.18 on September 13, briefly surpassing Citigroup in market valuation.
Current trading price is around $3.02, marking a 2% decrease in the last 24 hours, accompanied by a 15% drop in daily trading volume.
Technical analysis indicates XRP is consolidating near the middle Bollinger Band at $3.02. A rise above $3.20 could indicate bullish momentum.
The Relative Strength Index (RSI) suggests neutral conditions; a break below $2.70 could lead to further losses.
XRP is close to breaking out of a two-month symmetrical triangle pattern. A close above $3.25 might target resistance at $3.60.
Market sentiment remains optimistic, with potential triggers including a Federal Reserve interest rate decision and altcoin rally.
Institutional interest is growing, with 15 XRP ETF proposals under review. Analysts suggest an 87% chance of approval by late 2025, potentially boosting XRP to $5.