The price of the XRP token remains above $2.80, but there are doubts both from the macroeconomic side and the market data, negatively impacting its trajectory.
Macro Factors Restraining Growth
Weaker U.S. labor market data provided a brief lift to risk assets. However, traders are already eyeing the next wave of reports — payrolls, jobless claims, and inflation numbers that will set the stage for the Federal Reserve’s September 17 meeting. Despite a potential rate cut, uncertainty around timing has kept investors cautious. For XRP, which often tracks broader sentiment, that caution is manifesting in stalled price action.
Whale Selling Increases Pressure
Major holders of the token appear to prefer cashing out. Whale Alert flagged a transfer of more than 35 million XRP to Coinbase, continuing a trend of large sales that coincided with the latest pullback. CryptoQuant data also shows that coins sitting on exchanges are at their highest level in months — a clear sign that supply is seeking exits rather than long-term storage.
Technical Outlook for XRP
Chart watchers point out that XRP hasn’t reclaimed its 50-day moving average since slipping under $3. Momentum gauges such as RSI sit near bearish territory. Analysts warn that failure to defend $2.74 could send the token sliding toward $2.35. Meaningful recovery would require a strong push above $2.90 and then the $3 mark to reignite bullish momentum. Much of the optimism around XRP hinges on the SEC’s pending decision on a spot ETF.
Ripple’s progress in tokenization and payment infrastructure has not been enough to override current headwinds. Without a regulatory green light for an ETF or a clear shift in U.S. monetary policy, XRP looks set to remain range-bound. For now, bulls are left watching $2.70 as the key line of defense, hoping for a breakout in October.
