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XRP Holds $2.85 After 3% Swing as ETF Hopes Dented by Profit-Taking
Aggressive bids carried price to $2.91 before sell pressure capped gains. Late-hour recovery showed algorithmic buying into resistance at $2.85.
Updated Oct 1, 2025, 6:17 a.m. Published Oct 1, 2025, 6:17 a.m.
What to know:
- XRP traded within a narrow range, stabilizing at $2.85 after an initial surge to $2.91 was met with profit-taking.
- Analysts noted bearish divergences and increased reserves on Binance, advising caution before a potential test of the $3.00 level.
- Regulatory scrutiny intensified as reports highlighted a lack of corporate buy orders on Binance despite rising reserves.
XRP traded inside a compressed $0.09 corridor after an early push to $2.91 was met with sharp profit-taking. Buyers defended the $2.82–$2.84 zone, leaving the token consolidating at $2.85 into the close as volumes tapered. Analysts flagged bearish divergences while reserves rose on Binance, raising caution ahead of the $3.00 test.
News Background
- XRP has seen inflows of more than $6 billion over two days, driven by treasury adoption and speculative positioning.
- Regulatory focus sharpened as reports flagged zero corporate buy orders on Binance despite rising reserves.
- Wall Street technical desks advise caution until a breakout above the $3.00 threshold confirms trend direction.
STORY CONTINUES BELOW
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Price Action Summary
Aggressive buying pushed XRP to $2.91 at 06:00 on 49.8 million in volume.
Profit-taking cut price back to $2.82–$2.84, with turnover well above the 24-hour average of 56.8 million.
Stabilization in a $2.85–$2.86 band, with volume thinning to 4.9 million.
Market cap closed near $2.85, consolidating gains but failing to retest session highs.
Technical Analysis
- Resistance hardened at $2.91 on heavy rejection volume.
- Support validated at $2.82–$2.84 with multiple buy spikes.
- Breakout through $2.85 at 01:43 on 1.5 million tokens signaled algo-driven demand.
- Late-session consolidation shows reduced selling pressure but weak conviction.
- Divergences forming on momentum indicators cap upside risk in near term.
What Traders Are Watching
- Can XRP reclaim $2.91 and close above $3.00 to flip resistance?
- Impact of Binance’s 19% reserve increase and whether inflows represent sell-side liquidity.
- Regulatory scrutiny around exchange behavior and reported lack of corporate bids.
- Fed’s dovish tone on rates as a tailwind for Q4 crypto flows.
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