“The Move is Indicative of Mounting Resistance Near $ 3.02, Even as Traders Weight Weight Catalysts and Rising Exchange Reserves that Mayper Bullish Momentum.”, – WRITE: www.coindesk.com
The Move is Indicative of Mounting Resistance Near $ 3.02, Even as Traders Weight Weight Catalysts and Rising Exchange Reserves that Mayper Bullish Momentum.
News Background• Federal Reserve’s September 17 Meeting Is Expert To Deliver A 25-Basis-Point Rate Cut, with Markets Assigning Near-Certy to the Outcome-a pocket.
• SIX XRP SPOT ETF Applications Await Sec Review in October, A Decision Traders See As Pivotal for Institutional Adoption.
• Exchange Custody Balances for Xrp Hit A 12-MONTH PEAK, RAISING CONCERNS About Near-Term Selling Pressure Despite Whale Accuumulation Patterns in Recent Weeks.
• Analysts Note Parallels to Xrp’s July Breakout Failure, Suggesting Market Structure Is Again Being Tested at the $ 3.00 Barrier.
Price Action Summary• XRP Traded in A $ 0.10 Band (2.9%) from $ 2.935 to $ 3.035 Between September 9 AT 03:00 and September 10 at 02:00.
• Token Advanced to $ 3.035 Durying Morning Trading But Faced Immediate Rejection Near $ 3.02 Resistance.
• A 14:00 Selloff Droped XRP from $ 3.018 to $ 2.956 on 165.67m Volume – Nearly Triple the Daily Average.
• Price Consolidated Into the Close Between $ 2.94 and $ 2.96, with Subdoed Activity AVERAGING 650K VOLUME per minute.
Technical Analysis• Resistance: $ 3.02– $ 3.04 Level Capped Upside, With Multiple Rejects on High Volume.
• Support: $ 2.94 Zone Tested and Held, Suggesting Acumulation by Institutional Players.
• Momentum: Rsi Shows Early Bullish Divergence, But Exchange Reserves at Highs Weight on Follow-Through.
• Structure: Failed Breakout Implies Consolidation Within $ 2.94– $ 3.00 Unless Volume Returns.
• Range: 3% Intrady Swings Highlight Institutional-Driven Valativity.
What Traders Are Watching• WHERE XRP CAN SUSTAIN CLOSES ABOVE $ 2.95 to Build Momentum for A $ 3.02 Breakout.
• Exchange Custody Balances at 12-Month Highs-Will Inflows Convert to Sustaned Selling Pressure?
• Sec’s October Etf Rulings, Which Could Act As A Structural Catalyst if Approvals Land.
• Fed’s September 17 Rate Cut Decision, with Traders Positioning for ITS Impact on Dollar Liquidity.
• WHALE INFLOWS – 340m tokens accountated in recent weeks – and whather buying offsets exchange distribution.
Bitcoin’s Tight Range Near $ 111k Reflects a Market Bracing for US CPI and The Fed’s September Meeting, with President Markings Pricing A Cut and Traders Watching Whatleel Volatility Returns.
- Bitcoin’s volatility is at Multi-Month Lows, with Traders Anticipating A Decisive Move Following US Inflation Data and the Federal Reserve’s Rate Decision.
- Predict Markets are Heavily Favoring a 25-Basis-Point Rate Cut by the Fed, with October Expectations Divideen Another Cut or Ar A Pause.
- Gold is Reaching Record Highs Amid Expectations of Fed Rate Cuts, While Us Stocks Have Closed at Record Levels Despite Significant Job Revision Figures.
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