XRP declined 4% from $2.85 to $2.75 in the 24-hour session ending September 1 at 02:00 GMT, moving across a $0.12 (4%) range. The sharpest decline came at 23:00 GMT on August 31 when XRP dropped from $2.80 to $2.77 on 76.87M volume, nearly triple the daily average of 27.3M. Support was tested again during the final hour (01:31–02:30 GMT, Sept. 1) as price fell from $2.77 to $2.75, with spikes of 10M+ tokens per minute confirming forced liquidations.
Market turbulence was amplified by institutional liquidation flows totaling $1.9 billion since July, prompting fears of cyclical exhaustion. In contrast, whales accumulated 340 million XRP over the past two weeks, highlighting contradictory behavior between large holders and short-term liquidators. September seasonality and ongoing regulatory pressure in the U.S. add to caution, as crypto markets have historically underperformed in September while unresolved SEC actions keep institutions wary.
Technical analysis shows support at $2.75–$2.77 as the immediate base, with $2.50 and $2.00 as critical longer-term levels. Resistance remains heavy at $2.80–$2.87, with $3.30 as the higher-term breakout line. The RSI dipped into the mid-40s before stabilizing, suggesting oversold conditions. MACD shows bearish divergence but histogram compression points to potential crossover if accumulation continues.
On-chain data shows activity on the XRP Ledger trending higher, with symmetrical-triangle formations reminiscent of 2017 pre-breakout conditions. Liquidity maps suggest concentrations up to $4.00 that could amplify any upside move. Analysts flag upside potential to $5–$13 if resistance breaks and liquidity pockets above $4.00 are tapped.
Bollinger Band analysis on multiple timeframes shows concerning signals. The weekly chart shows the middle band sloping downward, indicating weakening momentum. The daily timeframe shows XRP stuck below its midline for most of August, with rejections at $3.10-$3.20. The 12-hour and 4-hour charts show XRP sliding toward the $2.70 area, with failed bounce attempts at the midline barrier.