Rebecca Cruz XRP bulls are flexing again. The token surged nearly 4% intraday, brushing up against the long-watched $3.00 barrier before sellers pressed back. While support remains rock solid above $2.88, repeated failures near $2.99 suggest institutional flows—not retail frenzy—are steering the short-term narrative.
Key Points at a Glance
Fed fuel for crypto: Futures markets now assign a 99% probability of a 25-bps cut at the Sept. 17 meeting, reinforcing the dollar-weakening trade that crypto thrives on.
Volume speaks loudest: XRP’s breakout saw 159.6M tokens traded in a single hour—triple normal turnover—signalling institutional positioning.
ETF catalyst looms: Six spot XRP ETF filings are pending SEC review in October, a structural tailwind traders refuse to ignore.
Whale alert: Reports show 10M XRP snapped up in just 15 minutes, underscoring quiet accumulation even as exchange reserves hit a 12-month high.
The Price Story
From $2.89 → $2.995 (+4%), XRP made its boldest run at the $3.00 threshold this quarter before closing at $2.95. Buyers defended the $2.88–$2.89 support zone repeatedly, while the $2.995–$3.00 ceiling proved stubborn. In the final hour of trading, controlled accumulation nudged prices from $2.94 to $2.95 on muted volume, hinting that the bulls aren’t done yet.
Technical Pulse
Support: $2.88–$2.89 remains the buyer’s fortress.
Resistance: $2.995–$3.00 ceiling is the line in the sand.
Momentum: RSI parked in the mid-50s = neutral but leaning bullish.
MACD: Histogram edging toward a bullish crossover.
Setup: A daily close above $3.00–$3.05 could ignite a push toward $3.30–$3.50.
What’s Next on Traders’ Radar
Daily close above $3.00. Bulls need a decisive break to flip resistance into support.
Fed’s Sept. 17 decision. A quarter-point cut is priced in; a bigger or delayed move could jolt liquidity expectations.
Whale behaviour. Roughly 340M XRP accumulated in recent weeks—a trend to watch as ETF buzz builds.
SEC’s October rulings. If Grayscale, Bitwise, and others win approval, XRP could see an institutional demand surge.
In short: XRP is coiled just beneath $3.00, with whales buying dips, the Fed fanning liquidity flames, and ETFs lining up as the next structural catalyst. The breakout setup is clear—the question is when, not if.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
