XRP News Today: Institutional Buyers in Korea Could Be XRP's Secret Weapon

XRP, the digital asset underpinned by the XRP Ledger, has recently exhibited a notable technical configuration suggesting a potential recovery in the near term. Amid broader market weakness, the token experienced a 4.3% decline in a 24-hour window, falling from $3.02 to $2.89. However, this selloff was partially absorbed by institutional demand on Korean exchanges, which saw the accumulation of 16 million XRP, equivalent to approximately $45.5 million. This regional buying interest is seen as a counterbalance to retail selling pressure, potentially establishing a support floor for the asset [1].

South Korea has historically played a pivotal role in altcoin price action due to its speculative trading culture, often referred to as the “Kimchi Premium” effect. The recent accumulation by Korean institutional players suggests a continuation of this trend. Analysts interpret this as a sign of strategic buying ahead of the Sept. 12 Decentralized Media launch, with active addresses on the XRP Ledger rising by 20% over three days [1]. Meanwhile, a Chinese fintech firm, Linklogis, integrated its supply-chain financing platform with XRP Ledger, which contributed to a 23% equity appreciation and highlighted the growing interest from enterprise sectors in adopting XRP-based solutions [1].

Technical indicators support the notion of a rebound setup. XRP is currently consolidating in a bullish triangle pattern, a formation historically associated with major price surges. Key support is seen at $2.77, with $2.85–$2.86 forming a critical accumulation zone. The RSI has improved from 42 to the mid-50s, and the MACD histogram is tightening toward a bullish crossover, suggesting possible upside if buying pressure is sustained [1]. Some analysts have drawn comparisons with previous patterns, projecting price targets of $5–$13 should the triangle breakout occur [3].

Traders are closely monitoring the $3.02–$3.04 resistance level as a potential trigger for a move toward $3.20, with a confirmed break seen as a strong confirmation signal. On the downside, a failure to hold above $2.77 could lead to further correction toward $2.70 [1]. Institutional accumulation in Korea and broader corporate adoption are viewed as key drivers for sustaining momentum as the market navigates the September event calendar [1].

Looking ahead, while XRP analysts remain bullish, attention is also shifting toward Layer Brett (LBRETT), a new blockchain project combining meme culture with Ethereum Layer 2 performance and high staking rewards. Despite XRP’s strong fundamentals, the buzz around Layer Brett underscores the dynamic nature of the altcoin market, where new entrants can quickly capture investor sentiment [2].

Overall, XRP’s current technical setup, regional institutional demand, and enterprise adoption are contributing to an environment that some analysts view as a potential prelude to a more significant price rebound. However, traders are advised to remain cautious, with both support and resistance levels closely watched as the market continues to evolve [1].

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 Price Prediction: Analysts Still Bullish But Market ... (https://coincentral.com/xrp-price-prediction-analysts-still-bullish-but-market-focus-is-on-this-new-crypto-for-now/)

[3] XRP News Now: Breakout Imminent: Bullish Pattern ... (https://thetradable.com/crypto/-xrp-news-now-breakout-imminent-bullish-pattern-signals-major-upside-ig--a)