XRP gained 3% in the past 24 hours, rising from $2.74 to $2.82, while major investors (“whales”) added nearly $960 million in positions. Despite this optimism, some analysts warn of a possible correction.

Key takeaways:

• XRP rose 3% in 24 hours, driven by strong institutional trading activity.
• Whales accumulated 340 million tokens in two weeks, worth around $960 million.
• Analysts are divided: some see risks toward $1.00, others forecast a breakout toward $7–$8.

Trading activity and price action

Institutional flows dominated the early session, with nearly 165 million XRP traded in one hour – far above the 24-hour average of 86 million. Prices moved between $2.70 and $2.83, with $2.70–$2.74 acting as support and $2.83 as resistance. By session close, XRP pulled back to $2.77, though whale buying remained evident.

Technical analysis

• Support: $2.70–$2.74
• Resistance: $2.83 (short term), with a broader breakout zone at $3.00–$3.30
• Momentum: RSI in the mid-50s, suggesting a neutral-to-bullish bias
• MACD: Histogram converging toward a bullish crossover, supported by accumulation
• Pattern: Symmetrical triangle under $3.00; breakout above $3.30 could target $4.00

What traders are watching

The tug-of-war between institutional buyers and bearish analyst calls is likely to set the tone for September. Pending spot XRP ETF approvals could act as a key catalyst. Scenarios: - Breakout: reclaim $2.83, then test $3.00–$3.30. - Breakdown: lose $2.70 support, exposing $2.50.

Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.