XRP has successfully held above the $3.00 psychological mark, confirming a short-term price floor near $2.99 following elevated trading volumes spurred by institutional interest.
The latest rally, which saw XRP climb 3% from $2.98 to $3.03 (between Oct. 2 and Oct. 3), is framed by two major developments:
- Japanese Institutional Expansion: SBI Holdings extended its institutional XRP lending services, reinforcing Japan’s commitment to the asset.
- U.S. ETF Anticipation: The crypto market is intensely focused on the seven pending XRP ETF applications, with the first decision dates set for October 18. Prediction markets are pricing approval odds above 99%, fueling speculative inflows.
Price Action Summary
XRP traded in a 4.9% range ($2.95–$3.10), with key activity indicating professional engagement:
- Volume Spike: A major spike occurred at 16:00, pushing the price from $3.00 to $3.06 on a massive turnover of 212.6 million tokens—more than double the daily average.
- Resistance Capped: Strong resistance at $3.10 capped the upside, where heavy selling prints resulted in a 129 million token turnover.
- Consolidation: The session ended with XRP consolidating between $3.00 and $3.05, confirming accumulation just above the key support line.
Technical Takeaway:
The successful defense of the $2.99–$3.00 support level and the volume-led breakout attempts validate strong institutional participation. For a sustained advance, traders are watching for a decisive close above the $3.10 resistance, which could pave the way for a move toward $3.20.
October 2025, Cryptoniteuae
📧 The Gulf reads Cryptonite first
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