XRP News Today:

South Korean cryptocurrency exchange Upbit has absorbed approximately $45.5 million worth of XRP during a recent market downturn, signaling a potential shift in regional institutional appetite for the asset. According to on-chain data, the exchange’s accumulation occurred amid a 4.3% drop in XRP’s price over a 24-hour period, with South Korean exchanges absorbing 16 million XRP [1]. This strategic buy-in is part of a broader trend in the region, where institutional players have historically played a pivotal role in influencing altcoin prices through the so-called “Kimchi Premium” effect [1].

Upbit’s move reflects a larger shift in XRP’s market dynamics, where retail investors have been offloading positions while institutional entities step in to provide liquidity. Analysts suggest this pattern could help stabilize the asset by creating a floor under its price, preventing further declines driven by retail selling pressure [1]. The absorption of XRP by Upbit is expected to translate into a steady revenue stream for the exchange, with the exchange reportedly earning around $6,100 per day from XRP mining contracts [1].

This accumulation coincides with broader developments in the XRP ecosystem. Activity on the XRP Ledger has increased, with active addresses rising by 20% over a three-day period in anticipation of the Decentralized Media launch on September 12 [1]. Additionally, enterprise adoption of XRP has continued to gain traction, with a Chinese fintech firm recently integrating its trillion-dollar supply-chain financing platform with the XRP Ledger, resulting in a 23% increase in the firm’s equity [1].

From a technical perspective, XRP has found support in the $2.85–$2.86 range, with increased buying volume observed during recovery periods. The Relative Strength Index (RSI) has moved from oversold levels into the mid-50s, indicating strengthening momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram has shown signs of a potential bullish crossover, suggesting that sustained buyer interest could push prices higher [1]. Chart analysts have also noted the formation of a symmetrical triangle and a double-bottom pattern, both of which could lead to a price target of $5–$13 if the current support levels hold [1].

The broader crypto market, however, remains in a state of flux, with Bitcoin’s performance expected to play a crucial role in XRP’s near-term trajectory. Given the 0.87 correlation between Bitcoin and XRP over the past year, a rally in Bitcoin could trigger a similar move in XRP [2]. Institutional flows into XRP have also been notable, with $1.2 billion entering the asset since the beginning of the year, placing it third among major cryptocurrencies in terms of inflows [2].

Source: [1] XRP Bullish Patterns Point to $5 as Korean Buyers Start to... (https://finance.yahoo.com/news/xrp-bullish-patterns-point-5-052559876.html) [2] XRP Is Down 25% Since July. Is a Rebound on the Horizon? (https://www.mitrade.com/insights/news/live-news/article-8-1087799-20250902) [3] XRP to KRW: XRP Price in South Korean Won (https://www.coingecko.com/en/coins/xrp/krw)