XRP Climbs Back Above $3 as Traders Eye $4 Breakout
XRP surged above the $3.00 level in early Sunday Asia trading, reversing Saturday’s dip to $2.95. The rebound followed a high-volume shakeout that cleared leveraged positions, attracting both bargain buyers and whales. Traders are now closely watching the $3.10–$3.30 range as the key battleground, with a potential breakout targeting $4.00–$4.20.
Market Drivers
- ETF Developments: Seven XRP ETFs remain under review, with October decision windows seen as pivotal catalysts for Q4 price action.
- Institutional Integration: Ripple’s Japanese partner SBI expanded its XRP lending program, supporting narratives of growing institutional adoption in Asia.
- Crypto Market Context: Despite $1.7 billion in derivatives liquidations, XRP wallet inflows exceeded 160 million tokens over the past week.
Price Action Highlights
- Resistance at $3.03 on Oct. 4 held, confirming near-term caps.
- XRP briefly dropped to $2.95 during 13:00–15:00 on 122M volume, three times the daily average, before stabilizing at $2.96–$2.97.
- By Sunday morning, XRP reclaimed $3.00, flipping the level into support.
- Traders now flag $3.30 as the next test, with breakout potential above $4.00.
Technical Analysis
- Support: $2.95–$3.00 reinforced by strong accumulation.
- Resistance: $3.03 short-term cap; $3.30 breakout zone.
- Trend: Inverse head-and-shoulders pattern remains intact, targeting $4.20–$4.80 if $3.30 clears.
- Volume & Momentum: Flushout volume of 122M shows strong rotation; Asian trading hours reflect renewed whale accumulation. RSI in the mid-50s signals a neutral-to-bullish bias; MACD trending toward bullish crossover.
Key Watchpoints
- Can XRP maintain closes above $3.00 to build momentum toward $3.30–$3.50?
- SEC ETF decisions on October 18 and potential spillover into altcoin ETFs.
- Whale wallet flows and on-exchange reserve changes as positioning signals.
- Macro backdrop: Fed’s dovish pivot and Asian liquidity flows shaping risk appetite.
