XRP Rebounds Above $3, Eyes $4 on Market Momentum
XRP regained the $3.00 level in early Sunday Asia trading, reversing Saturday’s decline to lows near $2.95. The rebound came after a high-volume flushout cleared leveraged longs, attracting bargain buyers and whale activity. Traders are now watching the $3.10–$3.30 range as a critical battleground, with a breakout potentially driving XRP toward $4.00–$4.20.
Market Catalysts
- XRP ETF filings: Seven remain active, with October decision windows seen as “binary” events likely to influence Q4 price action.
- Institutional integration: Ripple’s Japanese partner SBI expanded its XRP lending program last week, reinforcing adoption narratives in Asia.
- Market context: Despite $1.7 billion in derivatives liquidations, XRP saw wallet inflows surpass 160 million tokens over the past week.
Price Action Summary
- Rejection at $3.03 on Oct. 4 confirmed short-term resistance.
- Breakdown to $2.95 during 13:00–15:00 occurred on 122M volume, three times the average.
- Stabilization at $2.96–$2.97 enabled Asia-session recovery.
- By Sunday morning, XRP decisively flipped $3.00 back into support.
- Momentum traders are eyeing $3.30 as the next test, with a breakout potential of $4.00+.
Technical Analysis
- Support: $2.95–$3.00, reinforced by high-volume accumulation.
- Resistance: $3.03 short-term cap; breakout zone at $3.30.
- Trend: Inverse head-and-shoulders pattern remains intact, targeting $4.20–$4.80 if $3.30 clears.
- Volume: Flushout volume of 122M shows strong rotation; Asian hours show renewed whale accumulation.
- Momentum: RSI in the mid-50s indicates a neutral-to-bullish bias, with MACD trending toward a bullish crossover.
Traders Are Watching
- Will XRP sustain closes above $3.00 and build momentum toward $3.30–$3.50?
- SEC ETF decisions on October 18 and potential spillover into altcoin ETFs.
- Whale wallet flows and on-exchange reserve movements as positioning indicators.
- Macro backdrop: Fed’s dovish pivot and Asian liquidity flows shaping risk appetite.
