XRP Bullish Patterns Point to $5 as Korean Buyers Start to Accumulate

Information Background

XRP fell sharply alongside broader market weak spot, retreating 4.3% within the 24-hour session from August 28 at 13:00 to August 29 at 12:00.
On-chain knowledge confirmed Korean exchanges absorbing 16 million XRP (≈$45.5 million) throughout the selloff, pointing to regional institutional demand at the same time as retail wallets decreased publicity.
South Korea has traditionally been a driver of speculative crypto buying and selling, typically main value motion in sure altcoins (generally referred to as the “Kimchi Premium” impact).
If giant wallets related to Korean exchanges or establishments are accumulating at help, it suggests regional demand is stepping in to soak up retail promoting strain, successfully placing a ground beneath XRP.
For international merchants, that units up a story of distribution vs. accumulation: whereas some whales had been transferring $200 million in DOGE to Binance (a distribution sign), Korean desks had been including XRP publicity (an accumulation sign).
XRP Ledger exercise picked up, with lively addresses climbing 20% in three days forward of the Sept. 12 Decentralized Media launch.
Chinese language fintech agency Linklogis built-in its trillion-dollar supply-chain financing platform with XRP Ledger, boosting its fairness 23% and underscoring enterprise adoption.

XRP slid from $3.02 to $2.89 within the 24-hour window, a 4.30% decline throughout a $0.17 (5.75%) vary between $3.02 peak and $2.85 low.
Heavy promoting at 15:00 GMT on Aug. 28 drove costs right down to $2.77 on 96.19 million quantity, greater than double the 24-hour common of 43.48 million.
Shopping for help emerged at $2.85–$2.86, with volumes above baseline throughout the 07:00–09:00 GMT restoration push on Aug. 29.
Within the ultimate hour (11:56–12:55 GMT), XRP bounced from $2.87 to $2.89, touching $2.91 at 12:31 on a 19.6 million spike.

Assist: Key base at $2.77, bolstered by sturdy quantity absorption; $2.85–$2.86 now appearing as an accumulation zone.
Resistance: $2.91 short-term cap; $3.02 stays the dominant ceiling from repeated rejection.
Momentum: RSI lifted from 42 (oversold) into the mid-50s, displaying restoration momentum.
MACD: Histogram tightening towards a bullish crossover, indicative of potential upside if consumers maintain strain.
Patterns: Symmetrical triangles and double-bottom setups align with a broader cup-and-handle formation that some analysts see extending towards $5–$13 targets.

Whether or not $2.85–$2.86 help continues to carry in opposition to renewed promoting.
A confirmed break above $3.02–$3.04 resistance as the primary set off for a run towards $3.20.
Draw back dangers open if $2.77 fails, with $2.70 as the subsequent help.
Institutional accumulation on Korean exchanges and company flows stay the important thing driver for sustaining momentum into September’s occasion calendar.