Institutional Buying Drives XRP Rally, $3.60 Next Target

XRP Surges on Institutional Flows, Eyes $3.60 Breakout

XRP pierced the $3.00 psychological level in a high-volume session, driven by strong institutional participation. Over the 24-hour period, the token moved from $2.96 to $2.99, with midday spikes pushing volumes six times above the daily average. While resistance near $3.02 remains, bulls defended $2.98 support, suggesting accumulation and the potential for a rally toward higher extension levels.

Market Highlights

• The September 10 midday surge recorded volumes of 116.7M and 119M XRP between 12:00–13:00, significantly exceeding the 24-hour average of 48.3M.
• Futures open interest reached $7.94B, signaling robust derivatives positioning alongside spot demand.
• Technical analysts flag a descending triangle breakout, projecting possible upside toward $3.60 if momentum persists.
• Broader risk sentiment remains influenced by Fed rate-cut expectations, supporting flows into large-cap crypto assets.

Price Action Summary

• XRP rose from $2.96 to $2.99 between September 9 21:00 and September 10 20:00, trading within a $0.09 range.
• Midday breakout pushed the token to $3.02 on 119M volume, establishing a short-term resistance zone.
• Late-session selling briefly pulled XRP to $2.98 before buyers stepped in, closing near $2.99.
• Volume spikes of over 1.6M per minute in the final trading hour confirmed institutional accumulation.

Technical Insights

• Resistance: $3.02 remains the immediate ceiling.
• Support: $2.98–$2.99 successfully defended across multiple retests.
• Volume: Midday breakout volumes six times the daily average validate bullish momentum.
• Structure: Higher lows indicate sustained accumulation.
• Indicators: Fibonacci extensions suggest potential upside to $3.60.

What Traders Are Watching

• Sustainability of daily closes above $3.00 to turn resistance into support.
• Reaction at $3.02 resistance; a breakout could target $3.20–$3.60.
• Futures positioning and $7.94B open interest could amplify volatility.
• Federal Reserve policy updates and dollar liquidity trends impacting large-cap crypto flows.