TLDRXRP exchange reserves surged by 1.2 billion tokens in a single day, with Binance leading at 610 millionPrice topped $3 despite increased exchange reserves, which typically signal bearish sentimentCME open interest for XRP futures rose 74% month-over-month to 386 million XRPTechnical indicators suggest easing sell pressure, with $3 serving as a pivotal support levelAnalysts project potential targets of $3.66 and $4.50 if the breakout continuesXRP’s price has climbed above the $3 mark despite a massive surge in exchange reserves. The token saw one of its most dramatic shifts in exchange reserves this month, with multiple major exchanges reporting significant increases in their XRP holdings simultaneously.On September 1, exchanges including Binance, Bithumb, Bybit, and OKX reported a combined increase of over 1.2 billion XRP tokens in their reserves in just one day. This sudden influx represents a substantial portion of the circulating supply moving onto exchanges.Binance led this movement with the largest increase, expanding its XRP reserve by 610 million tokens to reach 3.538 billion. Bithumb followed closely by increasing its holdings to 2.519 billion from 1.647 billion XRP.The scale of these changes was even more dramatic for some exchanges. Bybit nearly doubled its supply, jumping to 380 million from 188 million XRP. But perhaps most striking was OKX, which saw its reserves skyrocket to 233 million from a mere 112,000 XRP tokens.Typically, rising exchange reserves are considered a bearish signal in the crypto market. More tokens available on exchanges usually indicates increased selling pressure, as these tokens are positioned for potential sales.However, XRP’s price behavior has defied this conventional wisdom. The token’s price moved above $3 on Wednesday following softer-than-expected US Producer Price Index data, marking an 8.43% increase for the month.Bulls kept up the pressure overnight Notably Coinbase seeing strong buy pressure (+8M net $XRP) into relatively thin books here pic.twitter.com/6an12g8q6m— Dom (@traderview2) September 8, 2025Market Dynamics Behind The MoveThe timing of this reserve surge coincided precisely with XRP hitting a critical support level of $2.73, which has recently absorbed downside pressure. This suggests the possibility of strategic positioning rather than immediate selling intent.Technical indicators including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show easing sell pressure. This further supports the theory that these inflows may not have been immediately market-facing.XRP kicked off a recent weekend with sudden buy-side pressure that caught many traders by surprise. A crypto analyst noted that a 3 million XRP market buy on Binance futures triggered a cascading effect, adding more than 10 million XRP in net buy pressure within just 15 minutes.Bulls maintained this momentum, with Coinbase also reporting 8 million net XRP buys against relatively thin liquidity. Market commentators observed that XRP’s return to the $3 level came on net inflows of $23.9 million against $6.9 billion in total trading volume.Future OutlookInstitutional interest in XRP appears to be growing. Open interest at CME has surged 74% month-over-month to 386 million XRP. Meanwhile, broader futures demand climbed 5% to 2.69 billion XRP, valued at approximately $7.91 billion.Despite this uptick in activity, XRP monthly futures trade at a 7% premium to spot, indicating balanced leverage. When compared to other altcoins that gained double digits in August, XRP’s performance has been more restrained.The $3 mark has become a pivotal level for XRP, serving as the dividing line between continuation of the uptrend and renewed weakness. Analysts suggest that a daily close below $2.80 would negate the bullish setup and likely push the price back toward the $2.50 support zone.XRP Price on CoinGeckoOn the other hand, if the breakout continues, price targets include $3.25, $3.66, and potentially $4.50 based on Fibonacci retracement levels.Technical signals support this bullish outlook. The RSI has moved above 55 after registering higher lows through late August, signaling increased momentum. As long as the RSI remains above 50, corrections are viewed as buying opportunities.The MACD is aligning near the zero line with the histogram turning to green bars. A confirmed bull crossover above zero would favor continuation above $3.05.The most recent price action shows XRP trading at $3.01, maintaining its position above the crucial $3 threshold despite the massive increase in exchange reserves.The post XRP (XRP) Price: Token Trading at $3.01 Following 8.43% Monthly Gain appeared first on Blockonomi.