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XRP price retained its position between $2.99 and $3.05 as traders evaluated new ETF deadlines and Federal Reserve rate expectations. A short-run price of $3.05 with increased turnover was reached and nearly reached $2.99, which suggests there is solid defensive purchasing at this price. Whale transactions exceeded $300 million, indicating that institutional desks are repositioning in advance of significant market events.
Over the last 24 hours, XRP gained 3%, fluctuating within a $0.08 range between $2.97 and $3.05 before closing near $2.99. There was a significant rise in trading volume, as more than 1.5 billion XRP was traded. Repeated rejections of approximately $3.04305 were found to strengthen the resistance, and buyers consistently bought the sell side at around $2.99, which provides a strong base of short-term support.
The price formation of XRP indicates, technically, a narrow range of consolidation. Resistance is strong at and around $3.05, which has been limited by consistent selling. Several retests at approximately $2.99 indicated a stable support zone, suggesting accrual activity.
Traders are looking to test $3.05 in case the token can improve momentum and revert to above $3.03. An effective breakout beyond this point may lead to $3.10, and potentially even $3.12, in the event of favorable market conditions.
Analysts emphasize the importance of macroeconomic events in shaping near-term direction. The market data shows a 96% likelihood of a Federal Reserve rate cut on October 29, and more than 70 ETF applications, including several pegged to XRP, have SEC deadlines starting October 19. Such catalysts are likely to have a significant impact on liquidity inflows and sentiment in the digital asset market.
The technical design of XRP grows with the expanding institutionalization of blockchain-based settlement networks. Both Hedera (HBAR) and Stellar (XLM), which follow a global payment standard, ISO 20022, are under the spotlight, as financial systems such as Fedwire and SWIFT have plans to make substantial upgrades in 2025, which means these compliant digital assets will be at the forefront in ensuring that real-time cross-border payments are upgraded.
Analysts in the industry consider XRP ETFs in this framework to be strategic. Ripple's history has facilitated the utility narrative of the token as a payments platform and its continuous integration with financial institutions. Together with HBAR and XLM, XRP's ability to align with ISO 20022 standards supports its role in the future of payment infrastructure.
