XRP maintained its critical $2.99 floor after multiple defenses, trading in a narrow range of $2.99–$3.05 as investors weigh ETF deadlines and Fed rate expectations.
The token surged briefly to $3.05 on elevated volume before easing, while whale wallets offloaded over $300 million. Institutional desks were active, repositioning ahead of a potential market-moving Fed decision.
Market Drivers
- XRP rose about 3% over 24 hours, with trading between $2.97 and $3.05.
- Institutional flows totaled over 1.5 billion tokens, indicating strong participation at key levels.
- Macro factors dominate sentiment: markets currently price a 96% probability of a Fed rate cut on Oct. 29. Meanwhile, more than 70 ETF applications—including seven for XRP—face SEC deadlines starting Oct. 19.
Technical Overview
- Support: $2.99, repeatedly defended through whale activity and intraday absorption.
- Resistance: $3.04–$3.05, currently capping upside.
- Upside Targets: A decisive move above $3.05 could open the path toward $3.10–$3.12.
XRP’s price structure signals accumulation at the $2.99 base, suggesting a potential bullish continuation if momentum reclaims $3.03 and challenges near-term resistance. Market catalysts, particularly the SEC ETF timeline and Fed policy, remain key for the next leg higher.
