TL;DR
- XRP is trading at $2.97 after rising 3% in the past 24 hours and remains in consolidation between $2.85–$2.90 support and $3.10 resistance, reflecting market indecision.
- If it manages to break the resistance, it could move toward $3.1–$3.4, while losing the $2.7 support would open the way to pullbacks toward $2.4–$2.75.
- Updates to the XRP Ledger and the high probability of U.S. approval for a spot XRP ETF are boosting adoption and attracting both retail and institutional investors.
XRP continues in a consolidation phase, currently priced at $2.97 after registering a 3% gain over the past 24 hours.
The cryptocurrency remains trapped between defined support and resistance zones, a result of investor indecision and moderate order flow. Key levels are located between $2.85 and $2.90 as support, while the most relevant resistance sits near $3.10, coinciding with the 38.2% Fibonacci retracement level.
Technical Analysis
Technical analysis shows that, on the daily chart, XRP is ranging between $2.7 and $3.4–$3.5. The 100-day and 200-day moving averages provide additional support near $2.7, acting as a critical threshold for the continuation of the consolidation. If this level holds, the price could attempt to retest the upper resistance, while a break below would open the door to deeper pullbacks toward $2.55–$2.75.
On the four-hour chart, a descending wedge pattern compresses price action, accumulating liquidity near the upper and lower boundaries. A breakout to the upside could push the token to $3.1 and eventually into the $3.4 range, whereas a drop from $2.7 could trigger further selling toward $2.4.
Why Is XRP Rising?
The recent market momentum follows updates to the XRP Ledger implemented on September 6, which introduce native KYC/AML attestations for decentralized identities. This update will facilitate institutional adoption by streamlining verification processes and preparing the network for large-scale asset tokenization, a market projected to exceed $16 trillion by 2030.
In addition, betting markets now place a 95% probability on the approval of a U.S. spot XRP ETF before October 2025, with major managers like Grayscale, VanEck, and Bitwise advancing regulatory filings.
The price rebound and recovery of support have generated optimism, attracting both retail and institutional investors. Short-term movements will continue to depend on XRP’s ability to hold support levels and overcome critical resistance points
