XRP Holds $3 Level as Traders Shrug Off Fresh Regulatory Opposition
Ripple’s XRP advanced 5% on the day, closing at $3.04, even as a coalition of major U.S. banks filed objections to the company’s pending banking license. The move came amid heightened volatility, with XRP fluctuating between $2.83 and $3.11 throughout the session.
Despite mid-session profit-taking and a notable $33 million one-minute transaction that disrupted order books, buyers defended key support at $3.00. Trading volume surged beyond 110 million XRP, reflecting active positioning from both institutional and retail participants.
Banking Sector Pushback
The Bank Policy Institute (BPI), representing 42 traditional banks, formally opposed Ripple’s license application — marking the most coordinated regulatory pushback since the company’s partial legal victory over the SEC. Still, the market response remained measured, with price action showing resilience and little sign of panic selling.
Price Action Overview
- Session High: $3.11
- Session Low: $2.83
- Closing Price: $3.04
- Intraday Swing: 9.8%
- Support Zone: $3.00–$3.02 remained intact
- Volume Spike: $33M transaction spooked order books during peak trading hours
Market Flows & Positioning
Institutional flows were mixed. Approximately $2.1 billion in net divestment was balanced by $14 million in new leveraged long positions, keeping positioning effectively neutral. Liquidity surges during Asia trading hours saw multiple back-to-back 50M+ XRP trades, suggesting larger holders remain active within the current range.
Technical Picture
- Resistance Levels: $3.09–$3.11 remains a stubborn ceiling
- TD Sequential: A completed 9-count on the 3-day chart flags potential for a short-term pullback
- Volume Trends: Five separate hourly windows recorded volume above the daily average of 47.7 million XRP
- Breakout Level: $3.05, with potential upside to $3.12–$3.15 if confirmed on strong volume
Key Watchpoints
- Ripple’s Response: Traders await any public rebuttal from Ripple or updates on the regulatory front
- Accumulation Signs: Continued strength in the $3.00–$3.02 zone may indicate larger wallet support
- Weekend Volume: A slowdown in activity could open the door for a retest of $2.92–$2.97
- Upside Targets: Reclaiming $3.05 could shift near-term bias toward $3.12–$3.25
Outlook
Despite the renewed regulatory friction, XRP’s technical posture remains largely constructive. While short-term resistance is clearly defined, the token continues to attract sustained volume and support at psychologically significant levels. AI-driven forecasts currently point to a gradual move toward $3.12 by month-end, contingent on holding $3.00 and clearing $3.05 on volume.
