After Failing to Break $2.93, XRP Retreats to Test $2.85 Support

XRP attempted to climb above $2.90 on Wednesday but quickly reversed, settling back at $2.85 as profit-taking dominated. A new supply zone has emerged at $2.92–$2.93, while the $2.85 level is now under pressure amid broader macroeconomic headwinds.

Market Overview
On October 8, XRP rallied 2% intraday, moving from $2.88 to $2.93 on 86.6 million in turnover — nearly double its 24-hour average of 48.3 million. The spike coincided with heightened geopolitical tensions and central bank activity, fueling volatility across risk assets. Despite stronger institutional adoption trends, profit-taking prevailed into the U.S. market close.

Price Action Highlights

XRP traded in a $0.08 range (3%) between $2.85 and $2.93.
Afternoon breakout above $2.90 peaked at $2.926 before reversing.
The rally created a supply zone at $2.92–$2.93.
Price slipped from $2.86 to $2.85 in the closing hour on 2.97 million volume, confirming a short-term pullback.
XRP settled at $2.851, down 2.5% from intraday highs.

Technical Analysis

$2.86 support gave way under selling pressure, turning into near-term resistance.
Immediate support is at $2.85; a decisive break could open risk to $2.80.
Resistance remains at $2.92–$2.93, where high-volume selling capped gains.
Short-term momentum appears bearish, though institutional accumulation and regulatory developments continue to underpin broader positioning.

Key Levels to Watch