XRP fell sharply along with a broader weakness in the market, withdrawing from 4.3% in the 24 -hour session from August 28 at 1:00 p.m. to August 29 at 12:00.
The data in the chain showed that Korean exchanges absorb 16 million XRP (≈ $ 45.5 million) during the sale of the sale, indicating the regional institutional demand even when retail wallets reduced the exhibition.
Historically, South Korea has been a promoter of the speculative cryptography trade, often leading the price action in certain Altcoins (sometimes called “Kimchi Premium” effect).
If large wallets associated with Korean exchanges or institutions are accumulating with support, it suggests that regional demand is intervening to absorb the retail sales pressure, effectively placing a floor under XRP.
For global merchants, that establishes a distribution narrative against accumulation: while some whales moved $ 200 million in Dix to Binance (a distribution signal), Korean desks were adding XRP exposure (a sign of accumulation).
The activity of XRP’s major book collected, with active addresses that rise 20% in three days before the launch of decentralized media of September 12.
The Chinese firm of Fintech Linklogis integrated its supply chain financing platform with Billion Dollars with the Book Mayor XRP, increasing its capital of 23% and underlining business adoption.
Summary of the price action
XRP slipped from $ 3.02 to $ 2.89 in the 24 -hour window, a 4.30% decrease in a range of $ 0.17 (5.75%) between $ 3.02 peak and $ 2.85 low.
The heavy sale at 15:00 GMT on August 28 reduced prices to $ 2.77 in 96.19 million volume, more than double the average of 24 hours of 43.48 million.
The purchase support arose at $ 2.85– $ 2.86, with volumes above the baseline during the recovery impulse of 07: 00–09: 00 GMT on August 29.
In the last hour (11: 56–12: 55 GMT), XRP bounced from $ 2.87 to $ 2.89, playing $ 2.91 at 12:31 at a peak of 19.6 million.
Technical analysis
Support: Key base to $ 2.77, reinforced by a strong volume absorption; $ 2.85– $ 2.86 now acts as an accumulation zone.
Endurance: $ 2.91 Limit in the short term; $ 3.02 remains the dominant roof of repeated rejection.
Impulse: RSI lifted 42 (oversized) in the mid -50s, showing recovery impulse.
Macd: Histogram hardening towards a bullish crossing, indicative of upward potential if buyers keep the pressure.
Patterns: Symmetric triangles and double background configurations are aligned with a broader cup formation and handling than some analysts see that they extend towards $ 5– $ 13 objectives.
What merchants are seeing
If the support of $ 2.85– $ 2.86 continues against the renewed sale.
A rupture confirmed above $ 3.02– $ 3.04 resistance as the first trigger for a race towards $ 3.20.
The downward risks open if $ 2.77 fails, with $ 2.70 as the next support.
Institutional accumulation on Korean exchanges and corporate flows remains the key driver to maintain the impulse in the September events calendar.
