XRP Stalls at $2.82, Eyes $3.30 Breakout Before SEC ETF
XRP held above $2.82 after a sharp 4% drop from resistance at $2.88–$2.89. Heavy volume at those levels capped the rally and anchored price within a 47-day consolidation below $3.00. Buyers emerged around $2.81–$2.83, keeping XRP above the key $2.77 support pivot. Whale accumulation continues, with institutions adding roughly 340 million XRP in recent weeks. Meanwhile, exchange balances remain elevated above 3.5 billion XRP, posing potential supply pressure. Traders now focus on technical analysis: RSI sits in neutral-to-bullish territory and the MACD histogram hints at a bullish crossover. Immediate resistance lies at $2.88–$2.89, with a breakout above $3.30 opening a path to $4.00. Key catalysts include the SEC’s October decisions on multiple spot XRP ETF applications and broader liquidity shifts driven by Fed policy and inflation data.
Neutral
The impact is neutral. XRP’s ability to hold the $2.77–$2.82 support zone underlines market indecision despite ongoing whale accumulation. Technical indicators (RSI neutral-to-bullish, MACD nearing crossover) suggest no clear directional bias yet. Historically, tokens often consolidate ahead of major regulatory catalysts—the same pattern seen in Bitcoin’s lead-up to U.S. ETF approvals in 2021. Short-term, XRP is likely to trade sideways around current levels, testing support and resistance. Long-term, SEC decisions on spot ETF applications and macro liquidity shifts could trigger a bullish breakout or exacerbate supply pressure if approvals are delayed.