XRP Breaks Above Key Level as Macro Tailwinds Support Rally
XRP surged 6% in the past 24 hours, climbing to around $3.01, as renewed optimism over U.S. Federal Reserve policy boosted investor appetite for risk assets. The latest CME FedWatch Tool data shows a 99% probability of a September rate cut, sparking rallies across both equities and crypto markets.
The daily chart reveals XRP bouncing strongly from its $2.80 support zone, highlighted in green. This level has acted as a floor multiple times over recent weeks, and buyers stepped in once again to defend it. On the upside, the first resistance lies near $3.20, followed by heavier supply zones at $3.40 and $3.70.
“If XRP sustains momentum above the $3.00 handle, the next leg could push toward the mid-$3 range, though rejection zones remain heavy,” According to BITX analysts. “The macro backdrop is supportive, but technical resistance must be cleared for continuation.”
Volume has ticked higher alongside the latest move, indicating stronger participation in the rally. The rate cut narrative has amplified investor confidence across digital assets, especially coins with high liquidity like XRP.
“Macro catalysts are aligning at the right time, giving XRP a chance to reclaim higher levels,” According to BITX market strategists. “Still, the $3.20–$3.40 resistance will be the ultimate test.”
If XRP holds above its support at $2.80, the bullish structure remains intact. A decisive close above $3.20 could open the path toward $3.40–$3.70, while failure to maintain momentum risks pulling the token back toward $2.80 once again.
For now, XRP’s 6% surge highlights the market’s confidence in a Fed-driven rally, positioning the token as one of the stronger performers in early September.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.