XRP rose 2.1% during the 24-hour trade session from September 28 at
News Background
• Large institutional addresses holding between 10-100 million XRP tokens, accumulated over 120 million coins over the past 72 hours.
• Seven XRP -Spot -Tf -Applications remain pending for the US Securities and Exchange Commission. Grayscales Submission is scheduled for October 18, with others queuing through November 14, creating a concentrated window with regulatory catalysts that could reshape currents in the short term.
• Market mood has been bent with expectation of increased exposure to the corporate portfolio. Analysts hit ETF approvals as a structural driver that could accelerate XRP’s adoption in institutional allocation strategies.
Summary of Price Action
• XRP traded within a corridor of $ 0.10 swung between a low low level of $ 2.84 and a high of $ 2.93, reflecting 3.5% volatility in the period. Price closed nearly $ 2.93, where the sale of pressure was intensified, especially during September 29, 14:00.
• The most significant upward movements came at. 02:00 and 07:00 GMT on September 29, when the volume spiked to over 97 million units. These waves significantly exceeded the daily average of 57.4 million, confirming institutional participation in rally phases.
• The last hour’s trade expanded progress as the price moved from $ 2.88 to $ 2.90 for a 0.7% late gain. The violation of the psychological barrier of $ 2.90 was confirmed by a 4.8 million unit volume Burst, taking the session to its heights before settling around $ 2,9045.
Technical analysis
• Resistance is raised between $ 2.92 and $ 2.93, where the price is repeatedly stopped on higher volume. This zone marks the next obstacle to continuation, with the confirmation of breakout, which probably requires a close over $ 2.93 by extending participation.
• Support has consolidated between $ 2.85 and $ 2.86, with buyers consistently defending bids during withdrawal. Several successful gene tests of this band throughout the session highlight its meaning as an accumulation zone.
• The psychological level of $ 2.90 has switched to a short -term turn. Price regained it in the late session and dealers will monitor whether this can keep as support on the way into the weekend.
• Volatility over the 24-hour window reached 3.47%, in accordance with elevated institutional relocation around key-regulating catalysts.
Which dealers are looking at
• Whether XRP can maintain closes over $ 2.90 and turn this to support, which would validate continuing attempts to $ 3.00 and beyond.
• SEC’s window in ETF review in October -November with Grayscales October 18 -date seen as the first major structural catalyst for institutional influxes.
• Whale wallet activity, with 120 million tokens accumulated over three days, suggesting further upwards if this pace continues.
• Wider macro conditions, with the Treasury outcome evolatility and FED -policy signals that affect the risk appetite across both shares and digital assets.
