XRP Faces Pressure at $2.85 After Brief Spike Above $2.90 as Traders Eye Key Support

XRP’s latest price action showed a sharp but short-lived rally, as the token briefly surged above $2.90 before slipping back to the $2.85 range. The move, driven by nearly double the average trading volume, highlights ongoing volatility across the crypto market amid global macroeconomic uncertainty.

On October 8, XRP jumped from $2.88 to $2.93 around 17:00, reaching a daily turnover of 86.6 million — well above its 24-hour average of 48.3 million. The rally coincided with increased geopolitical tensions and shifts in central bank policy, which spurred risk-asset movement across markets. Despite signs of institutional accumulation, the late-session pullback showed that short-term traders were quick to take profits as U.S. markets closed.

XRP traded within a tight $0.08 corridor, moving between $2.85 and $2.93. The breakout through $2.90 resistance peaked at $2.926 before reversing, forming a fresh supply zone at $2.92–$2.93. Selling pressure intensified into the final hour, driving the price down to $2.851 with 2.97 million in closing-hour volume, marking a 2.5% decline from intraday highs.

Technically, support at $2.86 has flipped into resistance, placing $2.85 as the key short-term floor. A break below that level could expose XRP to further downside toward $2.80. On the upside, buyers must reclaim the $2.92–$2.93 zone to regain momentum. Although near-term sentiment leans bearish, broader optimism around institutional adoption and potential regulatory clarity continues to provide a constructive backdrop for long-term investors.

Traders are now watching whether $2.85 can hold, as macro headwinds — including evolving Federal Reserve policy and global trade tensions — shape risk sentiment across digital assets.