XRP found firm support at $2.99 after multiple tests, trading in a $2.99–$3.05 range as investors await SEC ETF deadlines and Fed policy updates.
The token briefly surged to $3.05 on doubled volume before easing into consolidation, with whale wallets offloading over $300 million while institutional desks adjusted positions.
Market Drivers
XRP gained 3% over 24 hours, moving between $2.97 and $3.05. Institutional flows exceeded 1.5 billion tokens, while macro catalysts dominated sentiment: markets price a 96% probability of an Oct. 29 Fed rate cut, and more than 70 ETF applications, including seven for XRP, face SEC review starting Oct. 19.
Technical Snapshot
- Support: $2.99 held after multiple retests.
- Resistance: $3.04–$3.05 caps upside.
- Breakout Target: $3.10–$3.12 if XRP reclaims $3.03 and overcomes near-term resistance.
Analysts note accumulation at the $2.99 base, suggesting potential bullish momentum, with macro developments set to drive the next move.
