XRP is currently trading near a critical support level between $2.70 and $2.75, a zone that previously proved strong in early August. Analysts are watching to see if the token can hold this level, which also aligns with a key Fibonacci retracement level and the lower boundary of an ascending channel that has been active since April.
If this support holds, analyst Charting Guy suggests a potential fifth-wave rally with price targets at $4.16, $4.63, and $5.39. However, he also warns of a possible "bear trap" in early September, a short-term bearish move followed by a quick reversal.
Another analyst, CryptoWZRD, notes that XRP needs to break resistance at $2.94 to confirm an upward move, with immediate support below at $2.64. Both analysts acknowledge that XRP's price action is influenced by broader market trends, including Bitcoin's dominance.
On-chain data reveals that large buyers, particularly on South Korean exchanges, have been accumulating XRP during the recent dip. Analyst Ali reported that around 16 million XRP were absorbed by these exchanges, indicating strong institutional demand. This activity, often linked to the "Kimchi Premium," could help solidify a price floor. Additionally, on-chain activity on the XRP Ledger has increased, with a 20% rise in active wallet addresses, and Chinese tech firm Linklogis has integrated the ledger into its platform.
September 2025, Cryptoniteuae