- Significant movements by whales and participation from exchanges reflect ongoing institutional interest.
- The token price fell from $3.02 to $2.89 between August 28–29 amid high trading volumes, then stabilized around $2.83–$2.89.
- South Korean exchanges absorbed 16 million XRP, showing continued regional and institutional demand.
- Technical analysis points to potential recovery, with key support at $2.85–$2.86 and resistance at $3.02.
A meme cryptocurrency posted a late-session price surge on August 30 and 31, as large-scale investors and exchanges showed active involvement in the market despite uncertain global economic conditions.
Over the two days prior, the token’s value dropped from $3.02 to $2.89, with trading volumes above average. As of the end of August, prices recovered toward a support range of $2.83–$2.89. Oversold signals and ongoing whale accumulation helped lessen the impact of selling pressure.
According to trading data, South Korean exchanges handled 16 million XRP during a 24-hour period when XRP’s price declined by 4.3%. This absorption on local platforms highlights continued institutional demand, particularly from the region’s speculative traders.
Technical analysts identified a key support zone between $2.85 and $2.86, while resistance remains at $3.02. Indicators suggested momentum for a potential rebound as selling slowed and accumulation increased.
South Korea is known for its high levels of speculative crypto trading. Experts suggest that demand from this region has contributed to steadying prices during periods of market decline.
Additional details show that the token’s performance continues to attract institutional holders, even as broader economic conditions remain volatile.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Eric Trump Says Bitcoin Will Hit $1 Million Within Several Years
- Solana Eyes $300 as Golden Cross Signals Major Rally Against Bitcoin
- Florida Man Gets 7 More Years for Attacking Witness in Crypto Case
- Ethereum ETFs See $4B Inflows in August, ETH Up 17.5%
- US Supreme Court Ruling Exposes Crypto Transactions to Scrutiny
