TLDR:
- XRP price completes Elliott Wave E overshoot within Fibonacci retracement range of $2.65–$2.75
- Price consolidates above 0.618 Fib at $2.72, reinforcing support amid heavy trading volume
- RSI oversold readings suggest rebound potential, aligning with bullish Elliott Wave setup
- Upbit outflows raise questions about Korean market influence on XRP liquidity
XRP is consolidating above key Fibonacci levels after completing what analysts describe as an Elliott Wave triangle overshoot. The move has reinforced expectations of a bullish breakout, with targets between $3.50 and $3.80.
Traders note that the correction appears complete as price action holds above the $2.65 support zone. However, broader flows and exchange activity continue to influence sentiment around XRP’s next direction.
XRP Elliott Wave Structure and Fibonacci Zones
Matthew Dixon, a veteran financial trader, noted that XRP’s E wave overshoot has landed between 68% and 78% of the prior C wave. This Fibonacci retracement zone, around $2.65 to $2.75, is typically viewed as a reversal area in Elliott Wave theory.
Consequently, analysts see the current structure as a completed corrective phase, positioning XRP for its next upward leg.
When you see an overshoot with the E wave of a contracting triangle, it typically overshoots between 68% and 78% of the measure of the C wave.
We are well within that range for #XRP here and so I still hold with the $XRP Triangle as the primary EW count. pic.twitter.com/wPHJPmf9d6— Matthew Dixon – Veteran Financial Trader (@mdtrade) September 1, 2025
The 4-hour XRP/USDT chart shows price consolidating at $2.72–$2.73, holding just above the 0.618 retracement. Additionally, RSI readings between 28 and 35 suggest the market is oversold, supporting the possibility of a rebound.
Still, potential invalidation zones remain near $2.52 and $2.47 if support fails to hold.
Market Flows and Exchange Activity
Beyond technical indicators, traders are monitoring exchange flows for signals about market strength.
One of the biggest questions with $XRP is why the Koreans trade absurd size – How much do they actually influence the price?
Net flows since $3.60:
Upbit: −536M $XRP
All others combined: −296M $XRPCoinbase and Bitstamp have seen “net buying” since pic.twitter.com/L7Qjb7zFAq
— Dom (@traderview2) September 1, 2025
According to Dom, a market watcher, the Korean exchange Upbit has recorded net outflows of 536 million XRP since the $3.60 level. Other exchanges combined saw outflows of 296 million, while Coinbase and Bitstamp reported net buying.
This divergence raises questions about the degree of influence Korean traders have on XRP’s price discovery. Moreover, the $6.16 billion 24-hour trading volume reported by CoinGecko suggests liquidity remains deep despite recent declines.
XRP has slipped 1.94% in the past 24 hours and 4.29% over the past week, highlighting ongoing volatility.
The confluence of Elliott Wave completion, Fibonacci support, and oversold RSI conditions strengthens the bullish scenario for XRP.
Hence, traders anticipate a breakout toward $3.80 if consolidation above $2.65 persists. However, continued exchange outflows and broader market sentiment remain critical factors to watch.
The post XRP Price Holds Key Support as Traders Target $3.80 Amid Korean Exchange Outflows appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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