The digital asset rallied toward the $3.00 threshold on explosive volume before consolidating, as traders positioned around upcoming macro catalysts and ETF rulings. Support has held firm above $2.88, but repeated failures near $2.99 highlight how institutional flows are dictating short-term ranges.

News Background • Federal Reserve futures now imply a 99% chance of a 25-bps cut on September 17, boosting crypto as a dollar-weakening trade. • Exchange reserves rose to a 12-month peak, signaling more supply on exchanges even as whales accumulated an estimated 10M XRP in 15 minutes during the breakout. • Six spot XRP ETF applications are pending SEC review in October, a structural catalyst traders are monitoring.

Price Action Summary • Session ran from September 8 04:00 to September

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