XRP, the third largest cryptocurrency by market cap, is holding steady above the $3.00 support level while traders await a potential breakout. Currently trading at $3.04, XRP has been consolidating in a narrow range between $2.98 and $3.10 as market participants eye a possible move higher.
The cryptocurrency has shown resilience in recent weeks, maintaining its position above key support levels. Technical indicators suggest a bullish outlook, with the MACD recently turning positive. This technical shift may signal growing momentum that could propel XRP beyond its current resistance zone.
XRP has posted gains of 9.55% in September, showing a recovery from its August decline of around 8.15%. This positive performance indicates the token might be moving out of its consolidation phase.
The price action shows XRP testing resistance around $3.08 multiple times without breaking down. Support levels remain firm at $2.74, with deeper support near $2.51. Importantly, the price continues to trade above its 200-day moving average at $2.51, reflecting long-term strength in the market.
Trading volume remains moderate, suggesting buyers are present but not yet in full force. A breakout above the $3.10 level could open a path toward $3.50, while failure to hold $3.00 might push the price back to the $2.74 support zone.
XRP futures open interest has shown a strong recovery, climbing to $8.45 billion after experiencing a 30% drop in August when it fell to $7.7 billion. This rebound in open interest points to renewed speculative activity in the market.
The rising open interest comes even as XRP’s price remains below its recent high of $3.66. Market analysts often view increasing open interest as a sign of growing trader conviction, suggesting the token may regain bullish momentum in the near term.
Short-term price predictions from various analytics platforms suggest XRP might experience minor dips toward $2.98 before attempting recovery. Potential returns for short positions are estimated between 0.8% and 2.5% over the next week, though community sentiment remains overwhelmingly bullish.
Among traders, optimism runs high with 88% of 1.5 million voters expecting further upside for XRP. Only 12% express bearish views. This positive sentiment contrasts with some price predictions pointing to sideways movement around $3, indicating many traders believe the current consolidation is temporary.
In a development that could impact institutional demand, VivoPower International has announced plans to expand its XRP treasury holdings. The company will scale its proof-of-work mining unit, Caret Digital, and swap mined assets directly into XRP.
This strategy builds on VivoPower’s earlier moves in the XRP market. The firm became one of the first publicly traded companies to establish an XRP treasury when it raised $121 million for its initial entry in May 2025.
VivoPower has implemented a multi-pronged approach to building its XRP position. Last month, the company unveiled plans to purchase Ripple shares worth $100 million, which would effectively give the firm a discounted cost basis of just $0.47 per XRP token.
The company has also begun forming partnerships to generate yield from its growing XRP treasury. A recent $30 million pilot program with Doppler Finance will deploy XRP into structured yield strategies designed for institutional investors. This program could potentially scale up to $200 million depending on performance.
VivoPower secured another partnership with Flare Networks, deploying $100 million worth of XRP onto the layer-1 chain. This collaboration aims to use Flare’s decentralized finance protocols to generate revenue streams from the treasury.
These institutional moves come as XRP price action remains constrained within its current range. The price continues to test the $3.08 resistance while maintaining support at $3.00.
The current data shows XRP has not yet entered a full rally phase but is showing early signs of breaking out of its consolidation. As long as the $3.00 level continues to hold, analysts suggest the probability favors upside continuation rather than a deeper decline.
The post XRP (XRP) Price: Consolidating Between $2.98-$3.10 as Bulls Defend $3 Support appeared first on Blockonomi.
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