XRP Price Holds $3.00 as Institutional Demand and ETF Bets Drive Market Momentum

XRP extended gains above the $3.00 mark as institutional buyers fueled strong trading volumes, establishing a short-term floor near $2.99. The latest rally came in tandem with SBI Holdings’ expansion of institutional XRP lending services in Japan, underscoring growing regional crypto adoption. At the same time, U.S. markets are focused on the upcoming cycle of ETF decisions, with seven XRP applications under SEC review and the first verdicts expected by October 18. Prediction markets are now pricing approval odds above 99%, further attracting speculative inflows.

Price action reflected a defined corridor between $2.95 and $3.10, representing a 4.9% trading range. A notable spike occurred at 16:00 when XRP surged from $3.00 to $3.06 on over 212 million tokens traded — more than double the daily average. Heavy turnover at $3.10, totaling 129 million, marked the session’s resistance ceiling, limiting upside momentum. Despite the cap, XRP consolidated steadily in the $3.00–$3.05 range, a sign of accumulation above the psychologically important $3.00 threshold. In the closing hour, minor profit-taking pulled the token down from $3.03 to $3.02, with late institutional flows hinting at portfolio rebalancing.

Technically, support remains firm at $2.99–$3.00, with multiple defenses reinforcing this zone. Resistance is entrenched at $3.10, where institutional sellers continue to dominate. Market analysts note that a confirmed breakout and daily close above $3.10 would open the door to the next upside target near $3.20.

Traders are closely watching whether XRP can maintain closes above $3.00 and challenge $3.10 again. Institutional positioning, SBI’s lending liquidity in Asia, and ETF approval expectations will remain key drivers. Broader altcoin indexes, including the CD20, are also tracking XRP’s strength, signaling possible sector-wide momentum if bullish flows persist.