Institutional Pressure Caps XRP Rally as ETF Buzz Builds
XRP’s attempt to extend gains above $2.88 faltered Thursday, as institutional selling overwhelmed momentum and pushed the token back into its consolidation range.
The rejection triggered a 4% retreat to $2.84, breaking intraday supports and confirming $2.88–$2.89 as a critical resistance zone. Volume spiked to 227.75 million, about four times the 24-hour average, underscoring distribution by large holders.
Despite short-term weakness, structural factors remain supportive. Whale addresses added 340M XRP in recent weeks, while analysts compare the current 47-day trading band to XRP’s 2017 consolidation, which preceded a parabolic run.
ETF filings from six issuers—including Grayscale and Bitwise—add a key catalyst, with SEC decisions due in October. A break above $3.30 could unlock targets toward $4–$13, according to technical strategists, while $2.77 remains the near-term line of defense.
