XRP Holds Above $2.88 as Bulls Eye Breakout Beyond $3.00

XRP surged toward the key $3.00 resistance level before consolidating, with traders closely watching macroeconomic catalysts and upcoming ETF rulings. The digital asset climbed from $2.89 to $2.995 during the September 8–9 session, closing at $2.95 for a 4% intraday gain. Trading volume exploded to 159.63M at its peak, nearly triple the daily average, highlighting significant institutional participation.

Support continues to hold at the $2.88–$2.89 range, while repeated rejections near $2.995–$3.00 underscore the influence of institutional flows. Despite these pullbacks, higher lows into the close suggest controlled accumulation, with final-hour trading lifting XRP from $2.94 to $2.95.

Traders are monitoring several catalysts that could define the next leg of XRP’s rally. Federal Reserve futures now show a 99% probability of a 25-basis-point rate cut on September 17, a move expected to weaken the dollar and support crypto markets. On-chain data also reflects rising exchange reserves, yet whales added nearly 10M XRP within minutes during the breakout, with total accumulation estimated at 340M tokens over recent weeks.

Technically, momentum indicators are leaning constructive. The RSI remains in the mid-50s, suggesting a neutral-to-bullish bias, while the MACD is nearing a bullish crossover, consistent with accumulation. XRP is compressing in a tight range under $3.00, and a decisive close above $3.00–$3.05 could open upside targets toward $3.30–$3.50.

Looking ahead, market participants are focused on three drivers: whether XRP can achieve a clean daily close above $2.99–$3.00, the Fed’s rate decision on September 17, and the SEC’s pending review of six spot XRP ETF applications in October, including filings from Grayscale and Bitwise. Approval could significantly expand institutional access and spark a structural revaluation of XRP demand.