XRP price is once again making headlines after breaking past the $3 mark, sparking renewed interest in whether bulls can maintain momentum. At $3.03, XRP has gained 1.63% in the past day and 9.58% over the week, supported by strong trading volume of $7.25 billion. With a market cap of $181.32 billion, XRP’s latest rally comes at a time when both technical indicators and ETF developments are pointing to high-stakes moves ahead.
Let us start with understanding what led to the bullish momentum. So, institutional adoption is one of the strongest forces behind this rally. Nasdaq-listed VivoPower announced a $19M raise to expand its digital asset treasury with a clear focus on XRP. On the other hand, in Asia, Japan’s SBI Holdings extended its XRP lending program, improving liquidity management and reducing sell-side pressure.
Moreover, XRP ETF news is also dominating trader sentiment. Successively, 7 applications are awaiting SEC decisions starting October 18, with prediction markets expecting over 99% odds of approval. Investors need to note that even a single approval could act as a catalyst for massive liquidity inflows. Which could strengthen the case for a push toward the $3.50–$3.65 range.
Meanwhile, XRP futures data shows leveraged bullish bets are rising, with $97M in liquidations over 24 hours and open interest climbing 4.92% marketwide.
Looking at the XRP price chart, the token has broken above the psychological $3 barrier and is now testing the 23.6% Fib retracement at $3.07. A daily close above this level could confirm bullish continuation, targeting $3.31 and potentially $3.50–$3.65 in the short term.
Meanwhile, the RSI-14 stands at 64.84, close to overbought but not extreme. This suggests room for gains, though the risk of short-term profit-taking remains as divergence creeps in.
Contrarily, XRP price holds strong support at $2.99, with deeper support at $2.83. Losing these levels would weaken the bullish case and may force a retest of lower zones before recovery.
If XRP closes above $3.07, it could test $3.31 and possibly $3.50–$3.65.
Key support lies at $2.99 and $2.83. A break below could trigger a correction.
Approval could unlock huge institutional demand and add liquidity, fueling a price rally.
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