TLDR
- XRP trades at $2.94 with 4.24% daily gains as trading volume explodes 174% to $5.55 billion
- Whale groups accumulated $630 million worth of XRP tokens since September 3, lifting price above key $2.85 support
- Technical indicators show RSI at 51.90 and weakening MACD suggesting reduced selling pressure
- 93% of XRP holders now in profit, creating potential resistance as investors may take gains
- Key resistance levels at $3.01, $3.07, and $3.40 determine next major price direction
XRP price has captured market attention with strong buying momentum driven by whale accumulation. The cryptocurrency now trades at $2.94, marking a 4.24% increase over the past 24 hours.
Trading activity reached exceptional levels with volume jumping 174.48% to $5.55 billion. This surge indicates renewed institutional and retail interest in XRP price movements.
The weekly performance shows 5.82% gains, maintaining bullish momentum that began earlier this month. Market participants are closely watching whether this trend can sustain above current levels.
Massive Whale Accumulation Drives Price Action
Large-scale investors have been the primary force behind XRP’s recent strength. Since September 3, two major whale groups significantly increased their holdings.
The first group, holding over 1 billion XRP tokens, expanded positions from 23.86 billion to 23.93 billion. A second whale cohort with 10 million to 100 million tokens grew holdings from 7.61 billion to 7.76 billion.
Combined, these accumulation patterns represent approximately $630 million in new XRP purchases. This buying activity directly supported price action above the critical $2.85 level.
Open interest data from CoinGlass shows increased derivative activity. Open interest climbed 6.92% to $7.91 billion, while the funding rate remains positive at 0.0078%.
These metrics indicate stable confidence among futures traders. Liquidity conditions suggest markets are positioning for a larger directional movement.
Technical Analysis Points to Potential Breakout
Current technical indicators present a mixed but generally positive outlook. The Relative Strength Index sits at 51.90, positioning slightly above the neutral 50 mark.
RSI readings show upward momentum without reaching overbought territory. The signal line at 44.90 suggests continued bullish pressure building among traders.
Moving Average Convergence Divergence indicators show improving conditions. The MACD principal line reads 0.00777, with the signal line at -0.04502 and histogram at -0.05279.
These readings indicate weakening selling pressure. A potential bullish crossover could provide additional confirmation for upward momentum.
Crypto analyst Egrag Crypto highlighted the importance of the current $2.94 level. A convincing close above this zone could allow bulls to regain full control.
The first major resistance test appears at the 33-day Simple Moving Average of $3.01. Breaking this level would target the 55-day SMA at $3.07.
XRP broke out of a descending triangle pattern that had created bearish pressure. Instead of falling below $2.69 support, the cryptocurrency moved higher, eliminating immediate downside risk.
XRP Price Prediction
Despite whale support, profit-taking activity presents challenges. The percentage of XRP supply in profit jumped from 85.6% on September 1 to 93.4% by September 7.
When most holders sit in profitable positions, selling pressure typically increases. Short and medium-term holders have been reducing positions during recent strength.
The $3.40 level represents the ultimate breakout target according to technical analysis. A failure to maintain momentum above $2.94-$3.00 could extend consolidation.
Support levels remain critical for maintaining structure. The $2.85 level provides immediate support, while $2.69 represents the key level for the broader uptrend.
XRP price prediction shows potential for further gains if whale accumulation continues and profit-taking pressure eases near current resistance levels.
