News 
Coin Information 
About us 
Customer Service 
XRP posted strong gains on September 11 as institutional inflows drove trading volumes more than four times above daily averages. The token climbed nearly 2% to close around $3.05, holding support at $2.98 before testing resistance near $3.07. Analysts note that while accumulation remains steady, rising exchange reserves and ongoing ETF speculation are adding volatility to price action.
Ripple’s strengthened partnership with Spanish banking giant BBVA under the EU’s MiCA framework added credibility to its institutional adoption narrative. Broader crypto markets also reacted to global macro catalysts, including upcoming central bank rate decisions and trade policy shifts. Futures open interest in XRP surged to $8.36 billion, reflecting leveraged positioning, while whale wallets accumulated 340 million tokens. However, exchange inventories have reached one-year highs, raising concerns about potential distribution pressure.
Intraday, XRP moved within a tight $0.10 band, climbing from $2.98 to $3.05. The heaviest buying occurred at midday, when volume spiked to 243.37 million, signaling strong institutional demand. Despite multiple attempts, resistance at $3.07 capped upside momentum, with late-session distribution pulling the price back to $3.04 before closing above $3.05, indicating continued accumulation.
Technical indicators show support anchored at $2.98 and resistance clustered around $3.05–$3.07. A tightening descending triangle suggests an imminent breakout, while RSI improvements hint at building bullish momentum. Still, high exchange inflows remain a near-term headwind.
Traders are closely watching whether XRP can secure closes above $3.05 to break through $3.07, which could unlock a short-term move toward $3.20. Derivatives markets also show bullish sentiment, with call options outnumbering puts 3-to-1 at strikes between $3.00 and $3.50. With institutional partnerships expanding and macro drivers in focus, XRP’s next move may set the tone for broader altcoin momentum.
Comment 0