XRP Holds Narrow Range Amid Rising Leverage and Institutional Activity
XRP traded in a tight $2.78–$2.85 range on Oct. 10 as traders watched closely to see if the $2.78 support would hold amid growing leverage and institutional flows.
Exchange reserves reached nine-month highs, with 440 million XRP distributed over the past 30 days. Meanwhile, futures open interest approached $9 billion, signaling rising leverage and potential volatility. Bulls continue to defend the $2.78 floor, but persistent distribution has limited upside momentum.
Price Action Overview
XRP opened near $2.83 and closed at $2.82, briefly testing $2.85 before facing rejection. Trading volumes spiked above 123 million at 08:00 — roughly double the daily average — reflecting strong institutional activity. The token oscillated within a narrow 2% corridor, with support at $2.78 repeatedly defended. Late-session activity drifted to $2.82 on declining volumes, suggesting selling exhaustion.
Technical Outlook
The $2.85 zone has solidified as resistance, while $2.78 remains the key support pivot. Large exchange inflows and ongoing distribution indicate near-term downside risk, especially as futures open interest nears $9 billion.
Repeated defenses at $2.78 point to institutional accumulation. A break above $2.85 could open the way to $2.90–$3.00, while a slip below $2.78 may accelerate losses toward $2.72.
