XRP Holds Ground After Record High, Signals Continued Institutional Support
XRP touched a new all-time high of $3.61 on Friday amid a surge of bullish catalysts, including major U.S. crypto legislation and a wave of ETF filings. While the token faced a sharp intraday correction, dropping to $3.34, it rebounded to end the session near $3.45, pointing to consolidation rather than a full reversal.
Key Takeaways:
- XRP hit a record $3.61, dropped to $3.34, and recovered to close at $3.45, down 4.4% on the day.
- A volume surge of 308 million at $3.34 hints at significant institutional buying.
- Resistance now lies at $3.47–$3.48, with support firmly established at $3.34–$3.37.
What’s Driving the Price Action?
The rally was supported by the U.S. House passing landmark crypto bills, including the CLARITY and GENIUS Acts, aimed at creating clearer digital asset regulations. At the same time, ProShares submitted a proposal for the first-ever XRP futures ETF, while over a dozen asset managers filed for products tracking XRP price.
This triggered heightened investor optimism, with markets now pricing an 88% chance of spot XRP ETF approval by December 2025.
Price Movement Summary:
- XRP opened the session at $3.61 and declined to an intraday low of $3.34, marking a 7.5% dip.
- It then bounced 3.2% to end the day at $3.45, a level indicating stability and strategic accumulation.
- Key support between $3.34–$3.37 was reinforced by large-volume trades during the pullback.
- A late-session breakout attempt to $3.4759 was quickly reversed, as profit-taking set in.
Technical Outlook:
- Support: $3.34–$3.37 (institutional buy zones)
- Resistance: $3.47–$3.48 (next breakout level)
- Consolidation Zone: $3.43–$3.45 (post-recovery stabilization)
- Volume Indicators: Intraday spikes exceeding 2x the 24-hour average, suggesting strong whale activity
Bottom Line:
Despite the correction from its all-time high, XRP’s ability to hold above key support and attract heavy-volume buying suggests the broader uptrend remains intact. Traders and analysts now look to a break above $3.48 as confirmation for another leg higher toward the $3.60–$3.64 zone. The $3.34 level continues to serve as the critical line in the sand for short-term bullish momentum.
