XRP price is currently trading above the important $3 mark after gaining more than 3% in the last 24 hours. The move comes after weeks of steady accumulation by whales.
Strong Support and Whale Accumulation
Market data shows $2.80 has acted as firm support, preventing deeper declines and creating a base for recovery. In the past 48 hours alone, whales purchased more than 250 million XRP, with another 120 million acquired over three days.
These transactions, worth hundreds of millions of dollars, hint that institutional players are taking advantage of retail fear and uncertainty.
Historical Parallels With 2017
XRP’s current setup resembles its 2017 bull run. Back then, skepticism turned into a parabolic rally that caught many by surprise. Today, XRP is showing a similar structure, with $3.40 emerging as the next resistance.
If this level is broken, analysts see a path toward $5 in this cycle. The $2.65 level remains the macro floor, keeping the broader uptrend intact.
ETF Decision Could Be a Catalyst
The U.S. Securities and Exchange Commission is expected to rule on several XRP ETF applications in October. Approval could trigger significant institutional inflows, similar to Bitcoin’s surge when ETF excitement grew. Even without ETF approval, the fourth quarter has historically favored crypto rallies, giving whales another reason to build positions.
What’s Next for XRP
At present, XRP is consolidating near $3. Short-term volatility is likely, but long-term buyers continue to show confidence. If price clears $3.65 and later $4.50, XRP could enter a new phase of price discovery. Analysts say that such a move would open the door to higher targets, reinforcing the view that XRP’s rally may only be getting started.