XRP demonstrated bullish momentum with a 2.1% price increase during the 24-hour trading session from September 28 to September 29, climbing from $2.84 to $2.90 while maintaining stability within a $0.10 trading range representing 3.47% of the opening price.
Market Developments
• Institutional investors holding between 10-100 million XRP tokens accumulated over 120 million coins during the past 72 hours, signaling strong whale confidence.
• Seven XRP spot ETF applications await SEC approval, with Grayscale's decision scheduled for October 18 and additional reviews extending through November 14, creating a concentrated regulatory catalyst window.
• Market optimism remains high as analysts project ETF approvals could significantly boost institutional adoption and portfolio allocation to XRP.
Price Movement Analysis
• XRP traded within a tight $0.10 corridor between $2.84 and $2.93, showing controlled 3.5% volatility throughout the period. Significant selling pressure emerged near the $2.93 resistance level.
• Major price surges occurred at 02:00 and 07:00 GMT on September 29, accompanied by volume spikes exceeding 97 million units - substantially above the 57.4 million daily average, confirming institutional buying activity.
• The session concluded with a strong finish as XRP advanced from $2.88 to $2.90 in the final hour, breaking through the psychological $2.90 barrier with a 4.8 million volume burst.
Technical Perspective
• Immediate resistance sits between $2.92-$2.93, where previous rallies encountered selling pressure. A confirmed breakout requires sustained closes above $2.93 with expanding volume.
• Strong support has established between $2.85-$2.86, with buyers consistently defending this zone during pullbacks, indicating solid accumulation territory.
• The $2.90 level has transformed into a crucial pivot point, with traders monitoring whether it can maintain support position through weekend trading.
• The 3.47% 24-hour volatility reading reflects elevated institutional repositioning around upcoming regulatory decisions.
Key Market Focus
• XRP's ability to maintain positions above $2.90 and convert this level into reliable support for potential moves toward $3.00
• The critical SEC ETF review window from October through November, starting with Grayscale's October 18 deadline
• Continued whale accumulation patterns after 120 million token purchases over three days
• Broader macroeconomic conditions including Treasury yield movements and Federal Reserve policy directions affecting digital asset risk appetite