- XRP defends $2.71 support for the third time, rebounding 2.2% to $2.94 with eyes on $3.00 breakout amid rising volume.
- Ripple partners with Securitize for tokenized fund redemptions via RLUSD/XRP, boosting utility as whales sell 90M tokens.
- Bullish triangle pattern targets $3.60 if $3 clears; downside risks $2.70 retest, per Ali Martinez analysis.
In the ever-turbulent seas of cryptocurrency, XRP has once again proven its resilience, clinging to a pivotal support level amid broader market jitters. Chart wizard Ali Martinez of @ali_charts lit up X yesterday, highlighting how XRP’s defense of $2.71 could unleash buying pressure for a swift rebound to $3.60. Fast-forward to today, and the token has not only held but surged, trading at $2.94—a 2.2% intraday gain—after dipping to $2.78 overnight.
This bounce echoes a classic setup: third-time charm off the 21 EMA, a pattern that propelled XRP from $1.90 in June to highs near $3 earlier this month. Technicals paint an optimistic picture. On the 4-hour chart, XRP has broken out of a descending channel, with rising volume signaling fresh buyer conviction.
The symmetrical triangle consolidation between $2.85–$2.90 hints at an imminent breakout—upward if it clears $3.00, targeting $3.30–$3.50; downward risks a retest of $2.70. RSI at 58 suggests room for upside without overbought territory, while MACD shows bullish divergence. Yet, headwinds loom: Whales offloaded 90 million tokens, triggering $1.3 million in liquidations during a brutal 4-hour wipeout. Retail demand cools, and Bitcoin’s sideways grind caps altcoin fireworks.Enter Ripple’s latest chess move: A partnership with Securitize to enable 24/7 redemptions of BlackRock’s $BUIDL and VanEck’s $VBILL tokenized funds into RLUSD/ETH—and soon RLUSD/XRP.
CEO Brad Garlinghouse touted this as “real utility,” bridging TradFi liquidity to on-chain rails. With RLUSD’s stablecoin launch amplifying XRP Ledger’s speed, this could juice adoption, especially as XRP integrates with Flare for DeFi yields. ETF whispers add fuel—Grayscale’s filing eyes spot exposure, potentially mirroring Bitcoin’s 2024 surge. For September’s close, XRP eyes $3 before unlocks pressure mounts. If $2.71 holds, $3.60 beckons; a breach invites $2.50 pain. In XRP’s saga, support isn’t just a line—it’s a launchpad. Traders, watch volume spikes; the rebound train may already be leaving the station.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
