XRP News Today: XRP's $9.69 Target Hinges on Wave 3's Impulse and Institutional Buy-In

XRP’s price action has drawn significant attention from technical analysts, who believe the cryptocurrency has completed a corrective Wave (2) in the Elliott Wave structure, potentially setting the stage for a powerful Wave (3) rally. According to CryptoInsightUK, XRP’s decline to $2.72 in early September 2025 marked the likely end of this correction phase. This level, identified as a key support zone, has shown declining volume and neutral momentum on the RSI, suggesting a cooling off rather than a deeper bearish trend. If this support continues to hold, it could signal the start of a bullish impulsive move toward new highs.

The Elliott Wave model outlines a five-wave structure for XRP’s recent rally, with Wave (1) beginning in late June 2025, pushing prices from around $2 to a peak of $3.66 in July. Following this, XRP entered an expanded flat corrective pattern (labeled A–B–C), with the C-leg bringing it down to $2.72. Analysts suggest Wave (3) could now emerge as a strong impulsive move, potentially taking XRP to the mid-$6 range, and eventually reaching as high as $9.69 [1].

However, the model also includes a bearish alternative scenario. If XRP were to break below the $1.99–$1.94 range, it would invalidate the current bullish count and necessitate a reassessment of the wave structure. Analysts such as CrediBULL have emphasized the importance of confirming whether the recent rally from $1.90 was impulsive or merely a corrective bounce, though both parties agree that a drop below $1.90 would be a significant warning sign [1].

Korean exchange activity has also been highlighted as a factor influencing XRP’s price. On-chain data reveals that South Korean exchanges absorbed 16 million XRP during a recent selloff, indicating institutional accumulation. Notably, Upbit alone recorded outflows of 536 million XRP, while Coinbase and Bitstamp reported net buying [1]. Analysts suggest this regional demand is helping to stabilize XRP prices and absorb retail selling pressure, which could be a key factor in sustaining momentum through September.

Technical indicators also support a potential bullish reversal. The RSI has moved out of oversold territory, and the MACD is tightening toward a bullish crossover, indicating growing buying pressure. Symmetrical triangles and a broader cup-and-handle formation on XRP’s chart suggest the possibility of a breakout toward the $5–$13 range, though analysts caution that the immediate focus is on reclaiming the $3.02 resistance level [4].

The broader market environment remains mixed. While XRP’s technical setup appears favorable, wider crypto market pressures—such as Bitcoin’s decline and concerns over delayed Federal Reserve rate cuts—pose risks. Analysts note that XRP’s success will depend not only on its own fundamentals but also on the overall market sentiment and macroeconomic conditions.

In the near term, XRP faces key support at $2.70 and $2.90, with a successful reclaim of the latter potentially confirming the start of a new upward leg. If the bullish Wave (3) scenario plays out, XRP could see significant gains, with $9.69 as the ultimate target. However, market participants are advised to closely monitor price action and institutional buying behavior, particularly in the lead-up to major crypto events in September [4].

Source: [1] XRP Elliott Wave Structure Eyes $9.69 Top as Corrective Wave 2 Concludes (https://thecryptobasic.com/2025/09/02/xrp-elliott-wave-structure-eyes-9-69-top-as-corrective-wave-2-concludes/) [2] Elliott Wave Model Suggests $9.69 Target as Wave 2 Ends (https://thetradable.com/crypto/xrp-price-prediction-elliott-wave-model-suggests-969-target-as-wave-2-ends-ig--m) [3] Analyst Shares 3 Reasons the XRP Bull Run Isn't Over (https://thecryptobasic.com/2025/09/02/analyst-shares-3-reasons-the-xrp-bull-run-isnt-over/) [4] XRP Bullish Patterns Point to $5 as Korean Buyers Start to Accumulate (https://www.coindesk.com/markets/2025/08/31/xrp-bullish-patterns-point-to-usd5-as-korean-buyers-start-to-accumulate) [5] XRP Price Prediction: Ripple Analysts Eye $5 as Korean Buyers Lead Global XRP Accumulation (https://bravenewcoin.com/insights/xrp-price-prediction-ripple-analysts-eye-5-as-korean-buyers-lead-global-xrp-accumulation) [6] Bitcoin, Ethereum and XRP Hold Steady as 'Red September' Looms (https://finance.yahoo.com/news/bitcoin-ethereum-xrp-hold-steady-190400592.html) [7] Bitcoin, Ethereum, and XRP All Continue to Drop. Here's What to Watch (https://www.mitrade.com/insights/news/live-news/article-8-1088320-20250902)