XRP is currently consolidating under the $3 resistance level, having recently surged to $2.88, where it faced ongoing resistance at $2.90–$2.92. On September 17, the Federal Reserve is expected to announce a 25-basis-point rate cut, which could influence crypto markets positively, as institutional inflows remain strong. Despite a significant breakout on September 7 that saw XRP jump to $2.92 on six-fold average volume, the price has since been capped by resistance levels. Traders are closely monitoring for a sustained move above $2.90, with potential for targets up to $3.30 if successful. However, consistent failures to break through could lead to renewed selling pressure. Technical indicators show mixed signals, with support at $2.86 and a descending triangle pattern noted. The upcoming SEC rulings on spot XRP ETF applications could also significantly impact market sentiment in the longer term.

Source 🔗