XRP price is once again making headlines after breaking past the $3 mark, sparking renewed interest in whether bulls can maintain momentum. At $3.03, XRP has gained 1.63% in the past day and 9.58% over the week, supported by strong trading volume of $7.25 billion. With a market cap of $181.32 billion, XRP’s latest rally comes at a time when both technical indicators and ETF developments are pointing to high-stakes moves ahead.
What’s Driving XRP’s Price Surge?
Let us start with understanding what led to the bullish momentum. So, institutional adoption is one of the strongest forces behind this rally. Nasdaq-listed VivoPower announced a $19M raise to expand its digital asset treasury with a clear focus on XRP. On the other hand, in Asia, Japan’s SBI Holdings extended its XRP lending program, improving liquidity management and reducing sell-side pressure.
Moreover, XRP ETF news is also dominating trader sentiment. Successively, 7 applications are awaiting SEC decisions starting October 18, with prediction markets expecting over 99% odds of approval. Investors need to note that even a single approval could act as a catalyst for massive liquidity inflows. Which could strengthen the case for a push toward the $3.50–$3.65 range.
Meanwhile, XRP futures data shows leveraged bullish bets are rising, with $97M in liquidations over 24 hours and open interest climbing 4.92% marketwide.
Ripple XRP Price Analysis
Looking at the XRP price chart, the token has broken above the psychological $3 barrier and is now testing the 23.6% Fib retracement at $3.07. A daily close above this level could confirm bullish continuation, targeting $3.31 and potentially $3.50–$3.65 in the short term.
Meanwhile, the RSI-14 stands at 64.84, close to overbought but not extreme. This suggests room for gains, though the risk of short-term profit-taking remains as divergence creeps in.
Contrarily, XRP price holds strong support at $2.99, with deeper support at $2.83. Losing these levels would weaken the bullish case and may force a retest of lower zones before recovery.
FAQs
If XRP closes above $3.07, it could test $3.31 and possibly $3.50–$3.65.
Key support lies at $2.99 and $2.83. A break below could trigger a correction.
Approval could unlock huge institutional demand and add liquidity, fueling a price rally.