XRP Price Timeline: Only 2 Remaining Possibilities Indicated on Graph

In the cryptocurrency market, the digital asset XRP has been exhibiting a notable trend over the past few weeks. Sellers have banded together near the $2.9-$3 mark, creating a ceiling that XRP has been unable to break, according to recent analysis.

This consolidation could lead to one of two outcomes: either the digital currency holds within the low $2s or it attempts to reclaim the $3 zone. Since mid-August, XRP has been trading within a narrow range of $2.74 to $2.90, indicating a potential build-up of pressure.

The wedge in the XRP chart is almost played out, suggesting a significant move is unavoidable. If the $2.74 floor breaks, potential price drops could occur at $2.68, $2.56, and $2.35, representing a drop of more than 16% from current levels.

Currently, XRP is trading at $2.81, with both buyers and sellers being close in value. The chart doesn't give much room for patience, and the upcoming move could set the tone for how XRP spends September.

The current situation is more bullish than the previous $2.74 to $2.90 trading range, as a descending trendline has kept the XRP price from going up, pushing it closer to its support level at $2.74. This support line has held up during every dip over the past three weeks, but each test has made it more fragile.

For the XRP bulls, the potential option is to hold steady at $2.74, break through $2.90, and aim for $3.00 and $3.18. If this move is successful, it could potentially erase the late-August rebound in XRP's price. However, no specific person or institution has been named as adding XRP to Coinbase in the last week.

The XRP price analysis suggests a significant change in direction is imminent. The market will be watching closely to see if the digital currency can break through its current ceiling or if it will succumb to the pressure and drop below its support level.