XRP Holds $3.00 as Bulls Eye Breakout Toward $3.60

XRP surged past the $3.00 psychological level, signaling renewed institutional interest and heightened trading activity. The token moved within a narrow range of $2.96 to $2.99, before briefly touching $3.02 during a midday breakout that drew volumes six times higher than average. Despite facing repeated resistance at $3.02, traders see strong accumulation patterns, with bulls defending the $2.98 support zone.

The September 10 rally was fueled by heavy flows, with over 116 million and 119 million XRP traded in just one hour, compared to a 24-hour average of 48.3 million. Futures open interest rose to $7.94 billion, highlighting aggressive derivatives positioning alongside robust spot buying. Analysts suggest a potential breakout from the current consolidation could propel XRP toward $3.20 and ultimately $3.60 if momentum holds.

Technical indicators remain supportive. The market structure shows higher lows forming, confirming sustained accumulation despite resistance. Buyers repeatedly absorbed sell pressure near $2.98, re-establishing the token’s short-term support. Breakout volumes and strong institutional bids signal confidence in XRP’s upside potential.

Traders are closely watching whether XRP can consistently close above $3.00 to flip it into a support level. A successful breakout over $3.02 could ignite a stronger rally toward higher Fibonacci extension targets. With open interest at multi-billion-dollar levels, volatility could intensify as positioning builds.

Macro factors may further influence price action. Broader crypto markets continue to track Federal Reserve policy, with rate cut expectations fueling flows into large-cap digital assets like XRP. If institutional demand persists, XRP could sustain its bullish structure and test new highs in the weeks ahead.