XRP News Today: XRP's Fate Hangs on $2.99 as Legal and Market Crossroads Converge

XRP has remained in a tight trading range around $2.82 since a sharp decline earlier in the month, with traders and analysts closely monitoring whether the token can stabilize and regain momentum toward a potential breakout. The token has been consolidating near critical support levels, with the 200-day simple moving average (SMA) currently sitting at $2.88, providing a key baseline for bulls. Technical indicators suggest that a decisive move above $2.99 could trigger a rally toward $3.43, but failure to hold current levels risks completing a bearish wedge pattern, which could drag the price down to $2.28 in the short term [1].

The XRP price has been caught between supply resistance at $2.99 and support at $2.70, with the relative strength index (RSI) lingering at 39 and the moving average convergence divergence (MACD) just below neutral, signaling weakening bullish momentum. On the downside, support levels at $2.79 and $2.58 remain critical, and a sustained break below these levels would likely reinforce bearish sentiment [2]. Meanwhile, the volume/market cap ratio stands at 3.97%, and the 24-hour volume has increased by 17.51% to $6.56 billion, highlighting growing market participation [1].

Institutional interest in XRP remains strong, with open interest in futures markets reaching $1 billion on the CME exchange, a rapid climb that has renewed speculation about the potential approval of a spot XRP ETF by the end of 2025. Analysts have assigned an 82% probability to such approval, but market dynamics remain complex, with whales reducing exposure and large wallet distribution thinning over the past two weeks [1]. In contrast, retail leverage is rising, and funding rates are skewing bullish, suggesting increased speculative activity from smaller investors [1].

One of the most closely watched factors influencing XRP’s trajectory is the ongoing legal proceedings between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The outcome of this case will significantly impact the token’s regulatory clarity and the likelihood of new XRP ETFs being approved in the coming months [4]. Additionally, the competition from faster, lower-cost cross-border settlement alternatives has raised questions about XRP’s long-term role in the market. However, its volatility, deep liquidity, and high institutional participation continue to attract derivative traders [1].

Recent on-chain activity shows mixed signals, with large wallet holders accumulating approximately 340 million XRP tokens worth $960 million over the past two weeks, even as institutional investors have liquidated around $1.9 billion since July [2]. This divergence in institutional behavior suggests differing perspectives on the token’s near-term prospects. Moreover, the XRP Ledger has seen a surge in transaction volume, reaching 2.15 billion tokens on September 1, more than double the typical daily activity [2].

Looking ahead, the market is closely monitoring whether XRP can reclaim the $3.00 level before the end of the month, as a failure to do so may continue to draw funds into alternative assets, including early-stage projects like Bitcoin Hyper. The presale of Bitcoin Hyper has raised over $13.4 million, with its unique hybrid model combining Solana’s execution speed and Bitcoin’s security attracting growing retail interest [1]. Analysts are cautious but optimistic, noting that a successful breakout above $3.30 could unlock significant upside potential, while a sustained drop below key support levels would likely trigger deeper retracements [2].

Source:

[1] XRP Price Prediction Fed Rate Cuts: Can Ripple Hold $2.80 (https://icobench.com/news/xrp-price-prediction-fed-rate-cuts-can-ripple-hold-2-80/)

[2] XRP Forms $3.00 Triangle Pattern as Whales Accumulate $960M in Two Weeks (https://yellow.com/news/xrp-forms-dollar300-triangle-pattern-as-whales-accumulate-dollar960m-in-two-weeks)

[3] XRP Holds USD2.84 After V-Shaped Recovery From Midday Lows (https://www.coindesk.com/markets/2025/09/05/xrp-holds-usd2-84-after-v-shaped-recovery-from-midday-lows)

[4] When Will XRP ETF Be Released? Latest Updates & Insights (https://www.bitget.com/wiki/when-will-xrp-etf-be-released)