XRP Trades in Tight Range as Institutional Flows and Leverage Shape Market
XRP remained confined between $2.78 and $2.85 on Oct. 10, as traders watched closely to see if the $2.78 support would hold amid rising leverage and heavy institutional activity.
Exchange reserves reached nine-month highs, with 440 million tokens distributed over the past 30 days, while futures open interest approached $9 billion, signaling growing leverage and potential volatility. Bulls defended the $2.78 floor, though ongoing distribution has capped upside momentum.
Price Action Summary
XRP opened near $2.83 and closed at $2.82, briefly testing $2.85 before rejection. Volume spiked above 123 million at 08:00 — roughly double the daily average — reflecting significant institutional participation. The token traded within a narrow 2% corridor, with $2.78 repeatedly defended. Late-session activity drifted to $2.82, with declining volume hinting at potential selling exhaustion.
Technical Outlook
Resistance at $2.85 has strengthened after multiple rejections, while $2.78 remains the critical support pivot. High exchange inflows and distribution from large holders signal near-term downside risk, particularly with futures open interest near $9 billion.
Repeated defenses at $2.78 suggest institutional accumulation. A sustained break above $2.85 could open the path to $2.90–$3.00, while a slip below $2.78 may accelerate losses toward $2.72.
