XRP Price Analysis: Bulls Still in Control Despite Short-Term Setbacks
XRP (XRP) has experienced a significant rally of 18% on September 1st, rising from $2.70 to $3.18. However, the token was unable to breach the $3.20 mark, with four-hour fair value gaps being rejected on the sell side and resuming $3. After the Federal Reserve’s interest rate decision on Wednesday, XRP failed to register a higher high of $3.18, extending short-term weakness and increasing further $3 retest. The altcoin also struggles to maintain its position above the 50-day sliding average (SMA), which increases further selling pressure on short-term dynamics.
The inability of bulls to hold the $3.12 level earlier this week, identified as a key area for the continuation of $3.30, has been highlighted by Futures Trader Dom. The trader stated, “Bulls didn’t hold it at the beginning of the week at $3.12, which I represent for the challenge for a push to $3.30. This idea remains, whereby all eyes are turned to this level to support them (to fight now). No significant passive resistance in the order books up to this target area of $3.30.” This leaves $3.30 as immediate resistance, with bulls needing to reclaim $3.18 for a sensible continuation.
XRP six-hour diagram. Source: CoinTelegraph/Tradingview
Bullish Plan Remains Intact
Despite short-term setbacks, wider market signals indicate a continuing bullish dynamic for XRP. Onchain data shows that the change in net holder position since August 22nd was strongly positive. This followed a red between July and early August and collapsed with a higher level. The accumulation was most clearly seen in the range of $2.70 to $3, indicating that investors are positioning for an upward trend and not on the market.
XRP holder net position change. Source: Glasnode
Similarly, the realized profit/loss ratio underlined a transition phase. July recorded the most difficult win of the cycle and triggered the subsequent decline. Since then, the ratio has been flattened but has risen sharply recently, its strongest climb since November 2024. This indicates that a large part of the earlier selling pressure has been absorbed, with new cohorts likely entering the market from investors. Together with the accumulation of net holders, these indicators reflect a constructive long-term backdrop.
XRP realized profit/loss ratio. Source: Glasnode
The repetitive market fractal of XRP remains another bullish anchor. The Q1 structure was aligned with the current Q3 setup, whereby the low with the golden bag from Fibonacci (0.5–0.618) agreed with $2.70. This fractal implied that XRP follows its expected cycle pattern and sets the level for a potential rally of 60% to 85% in the fourth quarter. Based on this projection, XRP could reach the range of $5.00 to $5.50 from its current level of $3.
XRP One-Day diagram. Source: CoinTelegraph/Tradingview
For more information, visit https://cointelegraph.com/news/xrp-revisits-dollar3-support-but-data-shows-bulls-still-in-control
