XRP chopped a narrow $ 2.78- $ 2.85 tape that masks heavy institutional sales and rising leverage risks. Exchange reserves rose to nine months heights of 440 m tokens distributed over 30 days, while futures open interest caught near $ 9B.
Bulls continue to defend the $ 2.78 floor, but distribution patterns caps up the side.
News Background
XRP acted flat to lower the 24 hours to October 10, opened near $ 2.83 and closed at $ 2.82. The token gathered briefly for $ 2.85 before rejection, with volumes that spiked over 123 m at. 08:00 – twice the daily average – confirmation of institutional activity at key levels. The session came when dealers placed in front of macrocatalysts, where bold policy and regulatory clarity continued to shape mood.
Summary of Price Action
- XRP swung between $ 2.79 and $ 2.85, a 2% corridor.
- Resistance held at $ 2.85 with rejection for 12:00 hours.
- Support was on the grounds of $ 2.78, repeatedly defense of high volume.
- Late session saw an operation of $ 2.83 to $ 2.82, with 1.6m pressure confirming continued distribution.
- The last columns showed declining volume and suggested selling exhaustion near $ 2.82.
Technical analysis
The $ 2.85 zone has hardened for supply after several rejections, while $ 2.78 remains the most important support turning. Exchange flow and distribution from large holders strengthen the downward risk in the short term, especially when leverage builds with Futures Oi approaching $ 9b.
Still repeated defense of $ 2.78 signal institutional accumulation at the base. A break over $ 2.85 could reopen $ 2.90- $ 3.00, while a slip through $ 2.78 risks accelerating against $ 2.72.
Which dealers are looking at?
- Whether $ 2.78 continues to hold as a structural floor.
- If gearing positioning relaxes, add volatility to $ 3.00 gene test attempts.
- Ongoing whale distribution versus signs of dyppakumulation.
- ETF and bold catalysts as drivers for the next breakout from $ 2.78- $ 2.85 range.
