XRP Defends $3 Level Amid Bank Pushback, Eyes Breakout on Volume Strength
XRP climbed 5% to close at $3.04 on Tuesday, showing resilience despite renewed opposition from traditional banking institutions over Ripple’s pending banking license. Trading activity remained volatile, with price fluctuating between $2.83 and $3.11 as volume surged past 110 million XRP. A $33 million one-minute transaction temporarily disrupted liquidity and spooked order books.
The Bank Policy Institute (BPI) — representing 42 major financial institutions — filed a formal objection to Ripple’s license application, marking a fresh challenge to the firm’s regulatory ambitions. However, the market reaction was muted, with XRP holding above the key $3.00 threshold.
Market Snapshot:
- Price High/Low: $3.11 / $2.83
- Closing Price: $3.04
- Volume: 110M+ XRP, including large block trades
- Flows: $2.1B in net divestment, offset by $14M in leveraged long positions
- Forecasts: AI models predict $3.12 target by month-end; TD Sequential flags near-term exhaustion
Technical Overview
- Strong consolidation is forming between $3.00–$3.02.
- Resistance near $3.11 continues to cap upside moves.
- Daily volume exceeded the average in multiple hourly windows, suggesting persistent interest.
- TD Sequential’s completed 9-count on the 3-day chart signals potential for a local top.
- A clean break above $3.05 with volume >50M/hour could set up a move toward $3.15.
Session Highlights:
- XRP peaked at $3.11 around 17:00 before reversing.
- Support held at $2.97 during early Asia hours, reinforced by successive large trades.
- Final-hour price action stabilized near $3.03 despite a brief selloff attempt of 2.1M XRP.
Key Watchpoints:
- Ripple’s potential response to the coordinated regulatory challenge.
- Whether accumulation continues in the $3.00–$3.02 range.
- Weekend volume trends — a decline could open the door to a retest of $2.92–$2.97.
- Confirmation above $3.05 may shift sentiment bullish, targeting $3.12–$3.25 range.
Despite regulatory headwinds, XRP is maintaining bullish structure and strong liquidity, with breakout potential hinging on follow-through volume and clarity around Ripple’s licensing outcome.
