The XRP rose past the threshold of $ 3 during session 9 to 10 September, when institutional flows accelerated on the back of regulatory clarity in Europe.
Ripple’s new partnership with BBVA under MICA compliance provoked optimism that traditional banks can elaborate on the adoption of blockchain.
While Bulls defended $ 2.99 support, analysts notice that rising exchange reserves could still weigh on sustained momentum.
News Background
• Ripple Labs announced an extended partnership with BBVA that enables custody of digital active and settlement under the EU MICA Compliance Standards.
• Institutional ETF speculations continue in the US, where dealers prize October SEC decisions as a potential structural catalyst.
• Derivatives showing strong bullish positioning with 3 to 1 call-to-put ratio concentrated between $ 2.90- $ 3.50 to 12 September expired.
• Exchange reserves for XRP increased to 12-month heights, which suggests potentially distribution pressure despite strong partnership news.
Summary of Price Action
• XRP climbed from $ 2.97 to $ 3.02 during the September 9th 15: 00 – 10th September 14:00 and marked an 8% gain.
• Session High Hit $ 3.02 during the window 13: 47–13: 48 with 4.36 m and 3.44 m volume tips.
• Support consolidated to $ 2.94- $ 2.95 by strong volume validation.
• Token defended $ 3.00 despite the intraday dip for $ 2.99, signaling institutional defense.
• Closing price of $ 3.01- $ 3.02 kept XRP inside the Bullish Continuing Zone.
Technical analysis
• Volume: tops of 116.76 m and 119.07 m under waves, almost 3x daily average of 42.18 m.
• Support: Strong base for $ 2.94- $ 2.95; Several successful gene tests confirm accumulation.
• Resistance: Break over $ 3.00 validated; Next at main levels is at $ 3.05- $ 3.10 Fibonacci extension.
• Momentum: Higher low degradation strengthens the institutional purchase interest.
• Structure: Breakout from the consolidation zone suggests potential continuation if the $ 3.00 floor holds.
Which dealers are looking at
• Whether XRP can maintain daily closes over $ 3.00 to confirm the breakout strength.
• SEC’s ETF decisions in October as a structural catalyst for institutional capital inflow.
• Options expired on September 12, when calling-heavy positioning could enhance volatility.
• Exchange reserves that climb up to 12-month height-will influx are tilted into sustained sales pressure?
• Follow-up from BBVA-ripple Partnership as a signal to European banking.
