XRP News Today: XRP at Crossroads: Amazon Echo or 1929 Warning?

XRP, the digital asset associated with Ripple, continues to draw attention from analysts and investors amid mixed technical and macroeconomic signals. Recent chart patterns and market sentiment suggest both potential for upward movement and risks of a deeper correction. Analysts have drawn comparisons between XRP’s price action and historical market behaviors, including Amazon's consolidation phase in 2010 and the double bottom structure on XRP’s long-term chart.

Nick Anderson, known as BULLRUNNERS on the platform X, has highlighted how XRP is currently mirroring Amazon’s 2010 consolidation phase, suggesting that a long-term rally could eventually push the price beyond $100 and even reach $200. According to Anderson, XRP is forming a massive cup and handle pattern, with past highs acting as support. While the full realization of this forecast may take years, he estimates a short-term price range between $5 and $30 for this bull cycle, with the potential for a “giga rally” if liquidity surges due to the adoption of ISO 20022 by the U.S. Federal Reserve [1].

On the other hand, concerns about a broader market correction loom large. Current U.S. equity valuations have reached extreme levels, similar to those seen before historical downturns such as the 1929 crash and the 1999 dot-com bubble. If a correction occurs, it could exert significant downward pressure on XRP, as cryptocurrencies often move in tandem with other risk assets. XRP’s price is currently trading around $2.78, below the midpoint of the Bollinger Band, indicating bearish momentum. Key support levels are identified near $2.60 and $2.40, while resistance is clustered around $3.00 and $3.20. A break below $2.60 could accelerate the sell-off to $2.20 [2].

Meanwhile, XRP has recently experienced a 3% price uptick, reaching $2.88, driven by speculative demand as investors speculate on upcoming developments, including potential Ethereum ETF approvals. This rally occurred alongside a 10.3% decline in 24-hour trading volume, suggesting that the move was largely driven by leveraged traders rather than sustained spot demand. Derivatives data from Coinglass shows a 17% increase in XRP futures trading volume, with open interest rising by 3% over the past 24 hours. This divergence highlights the speculative nature of the recent price action [3].

Analyst EGRAG has identified a double bottom pattern on XRP’s chart, formed over a multi-year period beginning in 2018. This pattern suggests a potential rally toward double-digit prices if XRP can break above its current consolidation range of $2 to $3.6. According to EGRAG, the formation of a double bottom was validated when XRP broke above the $2 neckline in December 2024. If the token can surmount the current parallel channel, a move toward $22 to $27 is possible. However, in the short term, analysts warn that without a strong bullish catalyst, XRP may remain range-bound until the October ETF decision period [4].

Another recent point of controversy involves claims that Coinbase may be manipulating XRP’s price by offloading large portions of its holdings. Data shows that Coinbase reduced its XRP holdings from over 780 million to just under 200 million in a short period, sparking speculation about potential manipulation. However, pro-XRP lawyer Bill Morgan has refuted these claims, pointing out that XRP’s price behavior remains consistent with its historical trends, even during periods when Coinbase was not actively trading the asset. XRP has recently been consolidating between $2.8 and $2.9, with $3.10 identified as a critical resistance level [5].

At the moment, XRP is trading at $2.82, navigating a complex landscape of technical indicators and macroeconomic uncertainties. While some analysts are optimistic about the token’s long-term potential, short-term volatility and market conditions could shape its immediate trajectory.

Source: [1] Analyst Forecasts XRP To Stage Amazon-Like Rally To $200 (https://www.mitrade.com/insights/news/live-news/article-3-1101535-20250906) [2] Will XRP Survive If the Market Crashes Like 1929? (https://www.mexc.com/en-GB/news/will-xrp-survive-if-the-market-crashes-like-1929/82331) [3] Ripple (XRP) Price Moves Toward $3 as Community ... (https://finance.yahoo.com/news/ripple-xrp-price-moves-toward-215804400.html) [4] XRP Double Bottom Pattern Fuels Case for Rally Into Two ... (https://thecryptobasic.com/2025/09/06/xrp-double-bottom-pattern-fuels-case-for-rally-into-two-digits/) [5] Pro-XRP Lawyer Says Claims Of Coinbase Manipulating ... (https://www.mitrade.com/insights/news/live-news/article-3-1102380-20250908)