TLDR
- XRP currently trading at $2.87, up 2.39% in the last 24 hours
- Forming a symmetrical triangle pattern with support at $2.76 and resistance at $2.95
- Strong accumulation with 1.7 million tokens purchased by investors in the last month
- RSI at 58 indicates room for additional bullish movement
- Federal Reserve expected to cut rates by 25 basis points on September 17
XRP has been showing impressive momentum recently, climbing by 2.39% in the past 24 hours to reach approximately $2.87. This price action comes amid market volatility, with daily trading volume exceeding $3.52 billion and a market value of $170.76 billion.
The cryptocurrency is currently forming a symmetrical triangle pattern, which typically signals a potential breakout following a period of consolidation. The support level is established at $2.76, while resistance sits at $2.95.
This range has become a crucial battleground for traders watching for directional cues. Any breakout above $2.95 could trigger significant upward movement.
Technical indicators are aligning in favor of the bulls. The cryptocurrency is approaching an important technical junction with the convergence of the 50-EMA and 200-EMA at $2.82 and $2.88 respectively.
Since early September, XRP has been establishing higher lows, which suggests increasing buying pressure. However, a downward trendline that began in late August continues to cap the price action.
The RSI currently stands at 58, showing a slight increase but not yet reaching overbought territory. This indicates potential for additional bullish movement in the near term.
Recent price action has displayed small-bodied indecisive candles followed by aggressive bullish closes, reflecting the building tension before a potential breakout.
Key Price Levels to Watch
For traders monitoring this setup, several key levels stand out. A surge above $2.88 (the 200-EMA) would likely propel XRP toward the $2.95 resistance and potentially to $3.04.
Conversely, a drop below $2.76 would put the token under bearish pressure, with subsequent support at $2.70 and $2.63. These levels will be crucial in determining the cryptocurrency’s next major move.
Monday’s session saw XRP jump sharply from $2.83 to $2.88, briefly testing $2.92 on volume six times the average. While bulls managed to hold above the $2.86 support level, repeated rejection at the $2.90-$2.92 zone has capped upside momentum.
The trading range has been relatively tight at $0.10 (representing 4% volatility) between $2.83 and $2.92. Support at $2.86 has been repeatedly defended, showing strong accumulation at this level.
Bullish Accumulation Trends
Data indicates that XRP has been in strong accumulation mode. The net position change is reportedly at its highest in approximately two years.
In the last month alone, investors have purchased 1.7 million tokens, signaling growing confidence in the cryptocurrency’s prospects.
Market analyst Dom has flagged +10M XRP net buy pressure occurring within a 15-minute window during a recent breakout attempt, further highlighting the strong buying interest.
The Network Value to Transactions (NVT) ratio has reached its highest point in two months. This metric suggests that the network value of the token is increasing faster than its transaction activity, which could potentially indicate overvaluation.
Historically, such spikes have sometimes preceded a slowdown in accumulation momentum. However, the overall sentiment remains bullish due to the strong accumulation trend and positive technical indicators.
Analyst Dark Defender has suggested that XRP is likely to retest the $3 resistance level, which has been a significant barrier in the past. RSI indicators point to further gains, supporting the view that XRP could potentially overcome this barrier soon.
#XRP on the daily time frame is poised to retest the $3 weekly resistance line. RSI is getting bullish.
We identified the $2.85 level as a primary support level, which is currently acting as a resistance.
All support levels remain in effect.
We are getting there slowly but… pic.twitter.com/pSMWQT4HUE— Dark Defender (@DefendDark) September 7, 2025
The Federal Reserve’s upcoming meeting on September 17 looms large over the crypto market. Futures markets are pricing in a 99% chance of a 25-basis-point rate cut, which could influence institutional flows into cryptocurrencies like XRP.
Whale activity is being closely monitored, with reports suggesting 340 million XRP accumulated in recent weeks. Continued large-scale buying could further support the price floor, while any slowdown might weaken bullish conviction.
The SEC’s October rulings on spot XRP ETF applications remain a key longer-term catalyst that could significantly impact price movement around the $3 level.
The post XRP (XRP) Price: Trading at $2.87 as Technical Indicators Show Bullish Momentum appeared first on Blockonomi.
Source: https://blockonomi.com/xrp-xrp-price-trading-at-2-87-as-technical-indicators-show-bullish-momentum/