XRP Price Countdown: 2 Scenarios Left on Chart

As September opens, XRP finds itself in one of the narrowest trading corridors it's seen in months. The token's been bouncing between $2.74 and $2.90 since mid-August, and right now, it looks like that's the breaking point between a return to growth or more losses.

At the heart of this setup is $2.74. That support line has held up through every dip over the past three weeks, keeping XRP buyers there afloat. Unfortunately, each test made the line more fragile.

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At the same time, sellers have banded together near $2.9-$3, turning that range into a ceiling the coin can't break. The market's tightness has left XRP at $2.81, with both sides just a few cents apart.

Once the $2.74 floor finally breaks, it's pretty much downhill from there: $2.68 first, $2.56 after and $2.35 as the deeper test. That stretch would show a drop of more than 16% from current levels, completely erasing the late-August rebound.

Anything for XRP bulls?

There's another option, but it's just as challenging, though more bullish: hold steady at $2.74, break through $2.90 and go for $3.00 and $3.18 again. Those levels haven't been touched since early August.

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The chart doesn't give much room for patience. Since mid-August, a descending trendline has kept the XRP price from going up, pushing it closer to its support level. With the wedge almost played out, a big move is now unavoidable, and it'll probably set the tone for how XRP spends September: either holding the low $2s or trying again to get back to the $3 zone.