TLDR
- XRP currently trading at $2.94, showing 4.24% gains in 24 hours with volume up 174.48% to $5.55B
- Whales have purchased approximately $630 million worth of XRP since September 3
- Technical indicators suggest weakening selling pressure with RSI at 51.90
- Price needs to break resistance at $3.01, $3.07, and ultimately $3.40 to confirm bullish trend
- 93% of XRP holders currently in profit, which could lead to increased selling pressure
XRP, the cryptocurrency associated with Ripple, has been showing strong upward momentum in recent days. The digital asset is currently trading at $2.94, representing a 4.24% increase over the past 24 hours. Trading activity has surged dramatically, with volume jumping 174.48% to reach $5.55 billion.
The positive trend isn’t limited to the last day. XRP has maintained consistent growth over the past week, with its value increasing by 5.82%. This steady climb indicates sustained market interest and robust bullish action in the short term.
Analysts are closely watching a crucial price level around $2.94. According to crypto analyst Egrag Crypto, this level could determine the current market cycle for XRP. If the price manages to close above this zone with conviction, bulls might regain control of the market.
#XRP – Finishing or Continuation of the Throwback? š¤š:
If #XRP can close above $2.94 with conviction, and push past the 33 SMA around $3.01, weāll start to see early signs that the bulls are in control, potentially finishing the throwback. The low from September 1st couldā¦ pic.twitter.com/nUtQj2sDEj
— EGRAG CRYPTO (@egragcrypto) September 8, 2025
Several resistance levels lie ahead for XRP. The first major test is the 33-day Simple Moving Average (SMA) at $3.01. A move above the 55-day SMA of $3.07 would provide stronger evidence of a trend reversal.
The ultimate confirmation of breakout momentum would be clearing the $3.40 level. Any failure to maintain prices above the $2.94-$3.00 range could extend the current consolidation phase.
Whale Activity Boosts Market Confidence
On-chain data reveals significant buying from large holders. Since September 3, when XRP traded above $2.85, two groups of whales have added substantial positions. One group holding at least 1 billion XRP and another holding between 10 million and 100 million XRP have collectively purchased about $630 million worth of the cryptocurrency.
This whale accumulation has helped XRP maintain support above the $2.85 level, which had previously acted as resistance. The buying pressure from these large investors appears to be a key factor driving the recent price increase.
Trading metrics from CoinGlass show further positive signs. Open interest has increased by 6.92% to $7.91 billion, while the funding rate remains positive at 0.0078%. These indicators suggest stable confidence among derivatives traders.
Liquidity conditions indicate that markets are prepared for a sizable directional movement. The increased trading volume and open interest create a foundation for potential price discovery in either direction.
Technical Indicators Point to Potential Upside
The technical picture for XRP shows improving conditions for bulls. The Relative Strength Index (RSI) currently stands at 51.90, slightly above the neutral mark. The RSI signal line is at 44.90, indicating a smooth upward curve without reaching overbought levels.
The Moving Average Convergence Divergence (MACD) shows signs of weakening selling pressure. The MACD line value is 0.00777, while the signal line has a value of -0.04502. The histogram reads -0.05279. These readings suggest that selling momentum is easing, which could lead to a bullish crossover in the near future.
XRP recently broke out of a descending triangle pattern, which is typically considered bearish. Instead of breaking down below support, the price moved upward, invalidating the bearish setup. This development has removed some of the downside risk that had been hanging over XRP.
For the bullish case to strengthen, XRP needs to maintain support above $2.85 and the critical $2.69 level. As long as these supports hold, the broader three-month uptrend remains intact.
Profit-Taking Presents Challenges
Despite the positive signals, one risk factor remains prominent. The percentage of XRP supply in profit has climbed to 93.4%, up from 85.6% on September 1. When such a high proportion of holders are in profit, selling pressure often increases as investors look to secure gains.
Data on holding patterns confirms this risk. The percentage of supply held by three-to-six-month holders has decreased from approximately 9.05% to 6.12%. Similarly, one-week to one-month holders reduced their share from about 7.68% to 2.61%. These shifts indicate that short and mid-term holders have been selling into the recent price bounce.
This profit-taking behavior explains why the upward move hasn’t been more aggressive despite the substantial whale buying. The tug-of-war between large accumulation and widespread profit-taking has resulted in a measured climb rather than an explosive rally.
XRP’s immediate prospects appear cautiously optimistic. The combination of increasing volume, stable RSI, and easing MACD suggests a favorable market structure. If XRP maintains its position above $2.94, buyers may push toward the resistance levels at $3.01 and $3.07. A break above $3.40 would confirm further bullish extension.
The price now trades near $2.88, holding above $2.85 as support. The next resistance levels are $2.94 and $3.10, with a move past $3.35 needed to flip the structure fully bullish.
