XRP finds support at $2.75 after weeks of consolidation | Credit: Hameem Sarwar
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Key Takeaways
XRP has broken above a descending triangle, with a bullish MACD crossover.
Over 3.79 million XRP have left on exchanges recently, easing selling pressure.
XRP’s price could test $2.86 and rally toward $3.23 if the momentum holds.
Finally, after weeks of fakeouts and persistent downtrends, XRP looks like it has found a bottom. At press time, the altcoin trades at $2.85, still about 25% below its all-time high.
Even so, the current setup suggests that XRP is ready to claw back some of those losses—and may be aiming to close September with a positive return.
Here’s why that could happen, and the key targets traders should watch next.
XRP Finds Strong Support
Since Aug. 26, XRP’s price has been trending downward, slipping from $3.06 to $2.75 at its lowest.
As of this writing, however, the altcoin appears to have found a bottom at $2.75. On the 4-hour chart, XRP’s structure had been forming a descending triangle.
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But at press time, the token has broken above the upper trendline of that triangle.
Adding to the bullish case, the MACD has confirmed a crossover, with the 12 EMA (blue) crossing above the 26 EMA (orange). This setup signals renewed upside momentum.
From an on-chain perspective, CryptoQuant data adds weight to the bullish outlook for XRP’s price. One of the clearest signals comes from exchange outflows.
On Sept. 4, XRP’s exchange outflow stood at 716,729 coins. As of this writing, that figure has surged to 3.79 million.
Exchange outflows measure how many cryptos are leaving trading platforms and moving into private wallets.
An increase in outflows typically signals that investors are pulling their holdings off exchanges, reducing immediate selling pressure.
When fewer coins are available for quick sell orders, supply tightens. If demand holds steady or rises, this supply crunch can help drive prices higher.
In XRP’s case, the spike in outflows suggests that holders are preparing to HODL, betting on future upside rather than selling now.
On the other hand, if selling pressure intensifies, this outlook could shift quickly. In that scenario, XRP might lose its $2.75 support and slide as low as $2.40.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
