XRP fell almost 4% in Tuesday’s session as institutional sales hit in the middle of the day and forced a breakdown from $ 2.99 resistance zone.
A volume tip almost seven times the daily average confirmed liquidation streams, with price stabilization only after touching $ 2,878 support.
Dealers are now looking at whether $ 2.85- $ 2.87 band can hold ahead of Ripple’s Banking Charter Review Deadline.
News Background
- Ripple’s push for an American national bank charter has drawn control from regulators, where the October 7 OCC period marks an important moment in the review.
- Global Macro remains a trait: Trade Disputes and Divergent Central Bank Policy continues to SAP, for example, and Crypto Liquidity, a headwind to corporate tokens like XRP.
- At Binance, detention reserves rose ~ 19% during the week and hinted at the distribution pressure, even when some whale collection continues on-chain.
Summary of Price Action
- Resistance: $ 2,993 confirmed as a ceiling after repeated refusal of high volume.
- Division: The heaviest decline occurred between 13:00 to 15:00 UTC as volumes exploded to 586.9 m and price collapsed to $ 2,878.
- Area: 24-hour span covered $ 0.144 (4.8%)-wider than recent sessions that emphasized fragile order books.
- Recovery: Final Hour Bounce from $ 2,858 to $ 2,881 (+0.8%) Reflected short -term stabilization as algos utilized thin liquidity.
Technical analysis
- Resistance: $ 2.99- $ 3.00 remains fixed ceiling.
- Support: $ 2.85- $ 2.87 bands is key; Error opens road towards $ 2.70.
- Volume: 7x daily average on liquidation streams highlights institutional output pressure.
- Trend: Lower heights below $ 3.00 – Bearish Bias until reversing signals occur.
- Momentum: Small improvement late in the session suggests short -term stabilization, but wider setup remains fragile.
Which dealers are looking at
- Whether the XRP owns $ 2.85- $ 2.87 or extends fall against $ 2.70.
- Ripple’s OCC Charter decision and its influence on US regulatory positioning.
- Bitcoin’s $ 125K Breakout – Does it pull Altcoins higher, or decoupling XRP?
- Whale flows after Binance Reserve growth and wider distribution patterns on the chain.
- SECS ETF decisions in October as potential sentiment catalyst.
