From $2.70 Support to $3 Breakout: Why Traders Are Watching XRP Closely
- XRP’s $3 support has been tested multiple times, but $2.70 remains a strong demand zone.
- XRPL’s new on-chain compliance tools improve its case for institutional adoption.
- ETF anticipation and strong Fibonacci support add fuel for a potential breakout above $3.
Ripple’s XRP has been hanging around that $3 level, but it’s starting to look shaky. Over the past couple of months, price has tested this zone nearly five times, and history says repeated tests can weaken support. Still, buyers keep showing up just below, around $2.70, where demand has acted like a strong bid wall. What makes this move more interesting is that XRP isn’t just bouncing—it’s flexing. The token is up about 6% on the week, beating both Bitcoin and Ethereum, and momentum seems to have a bit more fuel behind it.
XRP Ledger Adds On-Chain Compliance Tools
Part of that strength is tied to XRPL’s new Credentials amendment. On September 4, the network rolled out native KYC/AML compliance tools directly on-chain. The idea is simple: institutions can verify credentials before onboarding users without exposing sensitive data. Ripple already works with banks like Hidden Road, and now it can manage compliance checks directly on-chain. That cuts down operational friction and makes XRPL look like a more polished, institutional-friendly option.
XRP ETF Countdown Boosts Market Sentiment
Another big driver is the pending XRP ETF applications. Starting October 18, issuers like Grayscale, 21Shares, and Bitwise are lined up for SEC approval. With Ripple tightening up compliance through XRPL, the SEC has fewer reasons to say no. Traders seem to be sniffing this out early—flows into XRP are heating up while other majors lag. That sets the stage for a retest of $3, but this time with a different setup. Instead of weakness, it could be the trigger for momentum.
XRP Price Bounces From Key Fibonacci Support
Technicals also look constructive. XRP recently bounced off $2.70 support, with the 78.6% Fibonacci retracement at $2.84 holding firm. The next Fib level sits at $2.96—barely 1.5% away at current prices. If XRP clears that, it could unlock a run toward higher retracement zones. In short, this isn’t just a quick pop; it’s a tactical setup. With ETF hype, compliance upgrades, and strong technical support all aligning, XRP looks well-positioned. That’s why it’s outperforming majors, gaining 1.2% versus BTC and 2% against ETH, hinting that rotational flows are starting to favor Ripple.
The post From $2.70 Support to $3 Breakout: Why Traders Are Watching XRP Closely first appeared on BlockNews.
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Ripple (XRP) Price Forecast: Can $55M in Leverage Keep Bulls Afloat Above $2.50?
From $2.70 Support to $3 Breakout: Why Traders Are Watching XRP Closely
- XRP’s $3 support has been tested multiple times, but $2.70 remains a strong demand zone.
- XRPL’s new on-chain compliance tools improve its case for institutional adoption.
- ETF anticipation and strong Fibonacci support add fuel for a potential breakout above $3.
Ripple’s XRP has been hanging around that $3 level, but it’s starting to look shaky. Over the past couple of months, price has tested this zone nearly five times, and history says repeated tests can weaken support. Still, buyers keep showing up just below, around $2.70, where demand has acted like a strong bid wall. What makes this move more interesting is that XRP isn’t just bouncing—it’s flexing. The token is up about 6% on the week, beating both Bitcoin and Ethereum, and momentum seems to have a bit more fuel behind it.
XRP Ledger Adds On-Chain Compliance Tools
Part of that strength is tied to XRPL’s new Credentials amendment. On September 4, the network rolled out native KYC/AML compliance tools directly on-chain. The idea is simple: institutions can verify credentials before onboarding users without exposing sensitive data. Ripple already works with banks like Hidden Road, and now it can manage compliance checks directly on-chain. That cuts down operational friction and makes XRPL look like a more polished, institutional-friendly option.
XRP ETF Countdown Boosts Market Sentiment
Another big driver is the pending XRP ETF applications. Starting October 18, issuers like Grayscale, 21Shares, and Bitwise are lined up for SEC approval. With Ripple tightening up compliance through XRPL, the SEC has fewer reasons to say no. Traders seem to be sniffing this out early—flows into XRP are heating up while other majors lag. That sets the stage for a retest of $3, but this time with a different setup. Instead of weakness, it could be the trigger for momentum.
XRP Price Bounces From Key Fibonacci Support
Technicals also look constructive. XRP recently bounced off $2.70 support, with the 78.6% Fibonacci retracement at $2.84 holding firm. The next Fib level sits at $2.96—barely 1.5% away at current prices. If XRP clears that, it could unlock a run toward higher retracement zones. In short, this isn’t just a quick pop; it’s a tactical setup. With ETF hype, compliance upgrades, and strong technical support all aligning, XRP looks well-positioned. That’s why it’s outperforming majors, gaining 1.2% versus BTC and 2% against ETH, hinting that rotational flows are starting to favor Ripple.
The post From $2.70 Support to $3 Breakout: Why Traders Are Watching XRP Closely first appeared on BlockNews.
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