XRP Breaks $2.80 as Bearish September Begins, Oversold Signals Suggest Recovery Ahead

News Background XRP declined 4% from $2.85 to $2.75 in the 24-hour session ending Sept. 1 at 02:00, moving across a $0.12 (4%) range. Market turbulence was amplified by institutional liquidation flows totaling $1.9B since July , prompting fears of cyclical exhaustion. In contrast, whales accumulated 340M 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: crypto markets have historically underperformed in September, while unresolved SEC actions keep institutions wary. 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. Price Action Summary The sharpest decline came at 23:00 GMT on Aug. 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. Earlier in the day, XRP briefly touched $2.87 before retreating, as institutional selling capped rallies above $2.80. Technical Analysis Support : $2.75–$2.77 remains the immediate base; below this, $2.50 and $2.00 are critical longer-term levels. Resistance : Heavy rejection at $2.80–$2.87 marks the ceiling for now; $3.30 is the higher-term breakout line. Momentum : RSI dipped into the mid-40s before stabilizing, suggesting oversold conditions. MACD : Bearish divergence persists but histogram compression points to potential crossover if accumulation continues. Patterns : Symmetrical triangle + double-bottom formations align with long-term cup-and-handle structure. Analysts flag upside potential to $5–$13 if resistance breaks and liquidity pockets above $4.00 are tapped. Volume : The 76.87M spike during the $2.80 breakdown confirms distribution, but whale absorption of 340M tokens in the background supports the case for accumulation. What Traders Are Watching Can $2.75 hold as the new floor into early September trading? A close above $2.87 would flip bias toward a run at $3.30. Divergence between institutional selling ($1.9B since July) and whale accumulation (340M tokens in August) as a key market driver. Whether seasonal September weakness overrides bullish structural setups pointing to $5–$13.