Preface

XRP recently encountered significant selling pressure as it approached the $3.07 mark, establishing this point as a critical resistance level. As this resistance was confirmed, the price of XRP stabilized around $2.98. Despite the bearish trends, there was continued interest from institutions in accumulating XRP, as shown by their market activity. This article will delve deeper into the price movements, technical analysis, and broader market context influencing XRP's recent performance.

Lazy bag

XRP reached $3.07 where selling pressure peaked, marking a technical resistance. The price stabilized at $2.98 owing to strong support and institutional accumulation.

Main Body

In recent trading sessions, XRP experienced a robust attempt to breach the $3 mark, culminating in a peak at $3.07. This move, however, was swiftly met by concentrated selling activity. The selling pressure was further highlighted by a high turnover rate, which was 17% above the daily average, suggesting participation by institutional desks at resistance levels.

Despite the persistent pressure, XRP found consistent support around the $2.98 level. Institutional investors appear to have a keen interest in buying at these dips. The repeated defense of this support zone suggests that institutions are leveraging these lower price points to accumulate XRP, thus stemming further losses.

Throughout the session, XRP's trading activity indicated a corridor movement between $2.98 and $3.07, an intraday range of about 3%. A notable rejection at $3.07 was marked by a high volume of transactions, approximately 64.3 million tokens, significantly above the average of 54.7 million.

The price of XRP stabilized near the $2.98 mark later in the session, as late-session dips were quickly absorbed by buyers, with rebound volumes averaging about 750K per bar. This suggests a continued interest in support retention, setting the ground for possible future attempts to breach higher levels.

Technically, the $3.07 level's status as a firm resistance is validated by the above-average selling pressure and failures in breaking higher. Meanwhile, the sustained support at $2.98 is validated by consistent buyer activity during dips, underscoring potential for accumulation interests to foster. The price dynamics overall reflect a rejection-driven pullback within a bounded range of $3.07 to $2.98.

Traders and analysts are closely watching for shifts in this range. Key points of interest include whether the $2.98 support will maintain its strength in subsequent sessions, and if the $3.07 resistance might weaken under renewed buying pressure. Eyes are also on potential institutional inflows spurred by upcoming ETF catalysts, which could initiate a test of $3.10 if buyers reclaim control above $3.03.

In parallel markets, trading volumes across centralized exchanges surged significantly in August, marking $9.72 trillion as the highest monthly volume in 2025. The prominence of exchanges such as Gate with substantial volume spikes positions them as major players in the space.

Key Insights Table

Aspect	Description
Resistance Level	$3.07 confirmed as a robust resistance point with heavy selling pressure.
Support Level	Strong support at $2.98 consistently defended by institutional buyers.

Last edited at：2025/10/21