Whales Accumulate XRP at $2.80 Support, Targeting $4 Breakout
XRP price slid 4% to $2.75 at the end of August after $1.9 billion in institutional liquidations since July. Whale investors diverged from the sell-off, accumulating 340 million XRP (≈$962 million) as exchange outflows topped $268 million, signaling long-term buy pressure. On-chain charts show a symmetrical triangle and cup-and-handle pattern, with key support at $2.75–$2.80 and resistance at $2.87. A decisive close above $2.87 could trigger a rally to $3.30 and $4.00. Momentum indicators—an RSI in the mid-40s and a compressing MACD histogram—highlight oversold conditions ripe for a bullish reversal. Traders should watch the $2.87 breakout amid seasonal headwinds and U.S. regulatory uncertainty.
Bullish
Despite XRP’s end-of-August sell-off triggered by $1.9 billion in institutional liquidations, whale accumulation and significant exchange outflows indicate strong buy-side interest in XRP. Technical analysis reveals oversold RSI and MACD compression alongside bullish patterns like symmetrical triangles and cup-and-handle formations. A break above $2.87 could catalyze a rally toward $3.30 and $4.00. While seasonal risks and U.S. regulatory uncertainty temper the outlook, the accumulation behavior and technical signals suggest a bullish short-term reversal with potential for significant gains.