What’s Next for XRP After Failed $3 Breakout?

XRP's rally hits a wall at the $3 threshold—traders left scrambling as momentum evaporates.

Technical Breakdown

The failed breakout signals weakening bullish conviction. Resistance held firm, triggering a cascade of stop-losses across leveraged positions.

Market Psychology Shift

Investors now question whether institutional appetite can sustain another push. Retail FOMO meets institutional caution—classic crypto whiplash.

Next Support Levels

All eyes drop to the $2.50 zone. A hold there keeps hope alive; a break lower could see a retest of $2.20. Because in crypto, what goes up must come down—especially when Wall Street 'experts' start tweeting charts.

News Background

• Federal Reserve’s September 17 meeting is expected to deliver a 25-basis-point rate cut, with markets assigning near-certainty to the outcome — a potential liquidity driver for risk assets.
• Six XRP spot ETF applications await SEC review in October, a decision traders see as pivotal for institutional adoption.
• Exchange custody balances for XRP hit a 12-month peak, raising concerns about near-term selling pressure despite whale accumulation patterns in recent weeks.
• Analysts note parallels to XRP’s July breakout failure, suggesting market structure is again being tested at the $3.00 barrier.

Price Action Summary

• XRP traded in a $0.10 band (2.9%) from $2.935 to $3.035 between September 9 at 03:00 and September 10 at 02:00.
• Token advanced to $3.035 during morning trading but faced immediate rejection near $3.02 resistance.
• A 14:00 selloff dropped XRP from $3.018 to $2.956 on 165.67M volume — nearly triple the daily average.
• Price consolidated into the close between $2.94 and $2.96, with subdued activity averaging 650k volume per minute.

Technical Analysis

• Resistance: $3.02–$3.04 level capped upside, with multiple rejections on high volume.
• Support: $2.94 zone tested and held, suggesting accumulation by institutional players.
• Momentum: RSI shows early bullish divergence, but exchange reserves at highs weigh on follow-through.
• Structure: Failed breakout implies consolidation within $2.94–$3.00 unless volume returns.
• Range: 3% intraday swings highlight institutional-driven volatility.

What Traders Are Watching

• Whether XRP can sustain closes above $2.95 to build momentum for a $3.02 breakout.
• Exchange custody balances at 12-month highs — will inflows convert to sustained selling pressure?
• SEC’s October ETF rulings, which could act as a structural catalyst if approvals land.
• Fed’s September 17 rate cut decision, with traders positioning for its impact on dollar liquidity.
• Whale inflows — 340M tokens accumulated in recent weeks — and whether buying offsets exchange distribution.