Traders Target $3.10 for XRP Amid Renewed Bullish Sentiment

XRP maintained its $2.99 floor after multiple tests, trading between $2.99 and $3.05 as investors weigh upcoming SEC deadlines and Federal Reserve policy signals.

The token briefly spiked to $3.05 on elevated volumes before easing into consolidation, with whale wallets offloading more than $300 million while institutional desks repositioned ahead of key macro events.

Market Context
Over the past 24 hours, XRP gained 3%, fluctuating between $2.97 and $3.05, closing near $2.99. The rally was driven by significant institutional activity, with more than 1.5 billion tokens exchanged, alongside large whale distributions.

Macro factors dominated sentiment. Markets are pricing in a 96% chance of a Fed rate cut on Oct. 29. Meanwhile, over 70 ETF applications, including seven for XRP, face SEC review windows starting Oct. 19, creating potential catalysts for price action.

Price Action Summary

Session range: $2.97–$3.05 (3% intraday swing).
Afternoon surge: Price climbed from $3.00 to $3.04 on 137 million in volume, nearly twice the daily average.
Resistance: $3.04–$3.05 remains a firm ceiling.
Support: $2.99 validated by repeated retests and absorption of intraday selling, including a brief dip to $2.981.

Technical Analysis
Support at $2.99 continues to hold, while resistance at $3.04–$3.05 caps near-term gains. Accumulation at the base suggests potential bullish momentum if XRP reclaims $3.03 and challenges $3.05. A confirmed breakout could pave the way toward $3.10–$3.12, though macro factors remain the primary drivers.

Key Levels to Watch

$2.99: Critical support under continued whale distribution.
$3.03–$3.05: Breakout zone for short-term momentum.
$3.10–$3.12: Target range if resistance is breached.
Macro catalysts: SEC ETF decisions and Fed rate announcements could influence near-term volatility.