As XRP consolidates below the $3 mark, the technical outlook suggests the asset may be preparing for a major move.

In this line, according to analysis by Ali Martinez, the token is forming lower highs while holding a firm support base near $2.70. This compression has narrowed price action, a setup that often precedes sharp volatility once the market chooses a direction.

At the same time, in an X post on September 6, Martinez’s analysis observed that Fibonacci retracement levels place immediate resistance around $3, with further upside potential toward $3.40 if bullish momentum prevails. 

Conversely, a breakdown below $2.70 could trigger deeper losses, exposing XRP to $2.50 or lower.

Based on the current setup, a 25% price swing appears likely. An upward breakout could see XRP retest $3, reaffirming market strength, while a downward breach risks undermining support and extending bearish continuation.

Ripple’s mass XRP transfer 

Indeed, this outlook comes as attention has turned to XRP’s short-term movement following a major transfer. Specifically, blockchain tracker Whale Alert reported a transaction of 250 million XRP, worth approximately $703.9 million.

According to XRPscan, the funds were sent to a Ripple-linked wallet, Ripple50, and may be allocated toward operational expenses. This transaction aligns with Ripple’s monthly practice of unlocking 1 billion XRP from escrow, retaining about 300 million while returning the rest. 

In addition, Whale Alert also flagged another 50 million XRP transfer between anonymous wallets. 

XRP price analysis 

At press time, XRP was trading at $2.91, up nearly 3% in the past 24 hours and 3.3% over the week.

For now, XRP must defend the $2.90 support zone to keep alive the chance of a rally toward $3, provided broader market sentiment remains bullish.

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