XRP fell nearly 4% in the Tuesday session as institutional selling came in at midday and forced a breakout from the $2.99 ​​resistance zone.
A volume increase of almost seven times the daily average of confirmed liquidation flows, and the price stabilized only after touching the support of $2,878.
Traders are now analyzing whether the $2.85 to $2.87 band can hold ahead of Ripple’s banking charter review deadline.
News background
- Ripple’s push for a US national banking charter has drawn scrutiny from regulators, and the OCC’s Oct. 7 deadline marks a key moment in the review.
- The global macroeconomy remains a drag: trade disputes and divergent central bank policies continue to undermine the liquidity of currencies and cryptocurrencies, a headwind for enterprise tokens like XRP.
- On Binance, custodial reserves increased ~19% over the week, suggesting distribution pressure even as some on-chain whale accumulation continues.
Price Action Summary
- Resistance: $2,993 confirmed as ceiling after repeated rejections on high volume.
- Breakdown: The steepest drop occurred between 13:00 and 15:00 UTC, when volumes spiked to 586.9 million and the price plummeted to $2,878.
- Range: The 24-hour span covered $0.144 (4.8%), wider than in recent sessions, underscoring the fragility of order books.
- Recovery: The last hour’s bounce from $2.858 to $2.881 (+0.8%) reflected a short-term stabilization as algos exploited tight liquidity.
Technical analysis
- Resistance: Between $2.99 ​​and $3 remains a firm ceiling.
- Support: $2.85 to $2.87 band is key; failure opens the way to $2.70.
- Volume: 7 times average daily liquidation flows highlights institutional exit pressure.
- Trend: Lower highs below $3.00: Bearish bias until reversal signs emerge.
- Momentum: A small late-session recovery suggests near-term stabilization, but the broader setup remains fragile.
What traders are watching
- If XRP maintains between $2.85 and $2.87 or extends the decline towards $2.70.
- Ripple’s OCC formation decision and its impact on US regulatory positioning
- Bitcoin’s $125,000 Breakout: Drags Altcoins Up or XRP Decouples?
- Whales flow following Binance reserve growth and broader on-chain distribution patterns.
- October SEC ETF decisions as possible sentiment catalyst.
