- Whales bought $30M XRP in 24 hours, lifting price to $2.87 with higher volume
- Traders watch $2.71 support and $3.16 resistance as consolidation tightens
- Policy push for 401(k) crypto access adds to bullish XRP sentiment.
XRP is trading at $2.87, gaining 2% in the past 24 hours, after whales accumulated 30M tokens. Trading volume rose 18% to $7.53 billion, showing stronger participation as the token rebounded from an intraday low of $2.80.
Analysts pointed to $2.71 as the level that buyers need to hold; defending it could keep the path open for a move higher. Ali Martinez also shared a 4-hour chart to back his prediction.
XRP Price Analysis: Consolidation With Caution
On the daily chart, XRP has been capped at $3.16, the resistance zone that rejected the last rally. Price now sits just below the 20-day Bollinger Band median at $2.97.
The narrowing of the bands shows volatility compressing, a setup that often leads to a breakout. Whether that move is upward or downward depends on how XRP behaves around the $2.97 to $3.16 range.
Related: XRP Loses Key $3.13 Resistance, $77M Long Liquidations Add to Sell Pressure
Mixed Technicals Define the Short-Term Outlook
The Accumulation/Distribution (A/D) line has begun flattening near 161.5B, signaling slower demand, while the Chaikin Oscillator at -3.694B reflects short-term outflows.
The Chande RSI (CRSI) is neutral at 55.11, leaving room for moves in either direction. Historical Volatility (HV) is cooling at 34.55, hinting at consolidation before the next major swing.
From a bullish angle, clearing $2.97 and $3.16 would open the door to $3.70, especially if supported by rising A/D levels and a positive Chaikin Oscillator.
On the other hand, failure to hold $2.77 could expose the token to decline toward $2.50, or even $2.30 if selling accelerates.
Broader Sentiment is also Bullish
Broader sentiment also appears supportive, as US lawmakers push the SEC to implement President Trump’s executive order aimed at opening the $12.5 trillion 401(k) retirement market to crypto.
Such a move could bring institutional inflows, boosting XRP and the wider digital asset sector. Analysts like Javon Marks have set eyes on the $9.90 price tag in the long-term for the cryptocurrency.
Related: XRP (XRP) Price Prediction For September 23
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