XRP Retreats After Failed $3 Breakout Amid Rising Resistance
September 10, 2025
XRP struggled to hold above $3.00 on September 9–10, with institutional selling erasing early gains. After briefly touching $3.035, the token fell back to $2.94 by session close, highlighting resistance near $3.02. Traders are monitoring potential catalysts such as pending XRP ETFs and rising exchange reserves, which may temper bullish momentum.
Key Drivers
- The Federal Reserve’s September 17 meeting is expected to deliver a 25-basis-point rate cut, potentially boosting risk asset liquidity.
- Six XRP spot ETF applications are under SEC review in October, seen as pivotal for institutional adoption.
- Exchange custody balances reached a 12-month high, signaling potential near-term selling pressure despite whale accumulation of 340M tokens.
- Analysts draw parallels to XRP’s July breakout failure, suggesting the $3.00 barrier remains a critical test.
Price Action
- XRP traded in a $0.10 range (2.9%), from $2.935 to $3.035.
- Resistance near $3.02 capped gains, while a midday selloff dropped the token to $2.956 on 165.67M volume.
- Consolidation occurred near $2.94–$2.96 with subdued trading.
Technical Outlook
- Resistance: $3.02–$3.04, repeatedly rejecting upward attempts.
- Support: $2.94, showing institutional accumulation.
- Momentum: RSI indicates early bullish divergence, though high exchange reserves may weigh on follow-through.
- Structure: Failed breakout suggests consolidation between $2.94–$3.00 unless volume returns.
- Range: 3% intraday swings highlight institutional-driven volatility.
What Traders Are Watching
- Ability to sustain closes above $2.95 to challenge $3.02 resistance.
- Impact of exchange reserves on selling pressure.
- SEC ETF approvals in October as a structural catalyst.
- Effects of the Fed’s rate cut on liquidity.
- Influence of whale inflows in offsetting selling pressure.
