XRP has recently experienced significant volatility, fluctuating between $2.70 and $2.84. While facing short-term resistance, long-term price support may come from whale accumulation. What does the future hold for the token?
XRP has experienced significant volatility in recent days, fluctuating between $2.70 and $2.84. Although short-term resistance around $2.82 to $2.84 has limited gains, whales have continued to accumulate the token massively, acquiring 340 million XRP in just two weeks. This dynamic suggests persistent institutional interest despite short-term bearish trends.
The high volatility has resulted in a trading range of $0.14, approximately 4.9% of the asset’s price. The most significant drop occurred on August 31, when the price fell from $2.80 to $2.67 on substantial volume of $76.87 million, nearly three times the daily average. However, the following morning, bullish flows triggered a rebound from $2.70 to $2.81, with a volume of $164 million, more than double the session averages.
XRP has therefore bounced off its 100-day moving average at $2.67. If this MA holds and XRP manages to maintain above its trendline at $2.84 on the daily timeframe, hope could return for XRP holders.
On the technical front, XRP presents a mixed picture. The support at $2.70 – $2.73 has been defended multiple times, reinforced by whale buying. However, the resistance zone between $2.80 and $2.84 remains a significant hurdle to watch. A breakthrough of this threshold could pave the way for a rally to $3.00 – $3.30, while a drop below $2.70 would expose $2.50 as the next structural support.
Most importantly, XRP faces a liquidity wall at $3, extending up to $3.09, which also coincides with its 50-day moving average. This resistance will be crucial in determining the strength of the rebound.
The technical momentum shows a neutral to bearish bias, with the RSI near the midpoint of the 40 range following the bounce. The MACD, meanwhile, remains in a compression phase, suggesting that the potential bullish crossover will depend on continued accumulation. Finally, a symmetrical triangle pattern is forming, with volatility compression, leaving the path open for a future bullish breakout toward $3.30 if resistance is overcome.
In summary, XRP has recently experienced increased volatility, oscillating between $2.70 and $2.84. Although short-term resistance around $2.82 – $2.84 has limited gains, massive whale accumulation, with 340 million tokens acquired in two weeks, suggests persistent institutional interest despite short-term bearish trends.
From a technical perspective, the picture is mixed, with solid support at $2.70 – $2.73 but key resistance at $2.80 – $2.84. Breaking through this level would open the door to bullish potential up to $3.30, if the resistance at $3.09 is broken.
The dynamics between bullish and bearish forces will be decisive for XRP’s future. Savvy investors should closely monitor market developments and technical signals to seize opportunities as they arise.
According to analyst CryptoBull, XRP could even outperform Ethereum in the coming months.
Here’s a quick guide to buying XRP on Bitget with GetAgent to take advantage of these bullish prospects in the medium term:
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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