XRP Price Today: Bulls Struggle as Sellers Push XRP Below $3

3d ago•

bullish:

bearish:

XRP price today is holding near $2.99, easing by about 1.5% after bulls failed to keep momentum above the key $3.07 resistance level. The brief breakout attempt sparked optimism across the market, but strong selling quickly took control, trimming earlier gains despite trading volume exceeding $5.1 billion in just 24 hours.

With a market capitalization of roughly $178 billion, XRP maintains its position as the third-largest cryptocurrency, trailing only behind Bitcoin and Ethereum.

Market analysts suggest that the $3 mark has become a psychological battlefield for traders. “The $3 zone is psychological, it’s where short-term traders take profits,” noted popular market strategist Michael van de Poppe on X, emphasizing how emotional dynamics and liquidity zones often shape short-term market moves.

Many investors now view this pullback as a natural breather in XRP’s broader uptrend, as the coin consolidates before making another potential push higher.

Resistance Rejection: $3.07 Cap Holds Firm

After testing $3.07 early Monday, XRP price today fell sharply as sell orders flooded in. Traders are watching the $2.95 support range closely; a breakdown could trigger moves toward $2.80.

Volume jumped nearly 17% above average, signaling institutional repositioning. Technical indicators show neutral RSI, while momentum suggests cautious sentiment after weeks of gains.

Market Factors: ETF Hopes and Regulatory Clouds

XRP’s rejection coincides with uncertainty surrounding U.S. spot XRP ETF discussions. As the Senate reconvenes, investors weigh the potential impact of policy shifts on liquidity. “Institutional inflows depend on regulatory clarity,” explained Canary Capital CEO Simon Casey, hinting at possible $10 billion ETF demand once approvals begin.

Meanwhile, the lingering Ripple–SEC case continues to shape sentiment. Ripple’s CEO Brad Garlinghouse recently reiterated, “Regulatory progress must align with innovation, not punish it,” in a media interview.

XRP Ledger’s Strength and On-Chain Resilience

Despite market pullbacks, XRP’s fundamentals remain strong. The XRP Ledger processes transactions in three seconds with near-zero fees. Over 59.8 billion XRP are in circulation out of a 100 billion cap, and the network maintains over 150 validators.

XRP price today

Developers leverage XRPL for tokenization, DeFi, and upcoming CBDC use cases, underscoring its growing ecosystem even amid price turbulence.

Short-Term Outlook: Eyes on $3 Breakout

For XRP price today, the battle lines are clear. Bulls need a decisive close above $3.12 to confirm upside continuation toward $3.38 and $3.67. Failing that, a retreat below $2.95 may invite broader market selling.

Traders highlight macro factors, like the Federal Reserve’s October 29 meeting, as potential volatility triggers. “Crypto remains tethered to macro risk,” noted trader Alex Krüger.

Conclusion

The battle around $3 defines the next phase for XRP price today. With solid fundamentals but heavy selling pressure, the market stands at a crossroads. Regulatory clarity and institutional adoption could tilt momentum back to the bulls. Until then, investors watch closely as XRP tests the strength of its support and the resolve of its long-term holders.

Frequently Asked Questions

1. Why did XRP drop below $3 today?
XRP price today declined due to profit-taking and resistance near $3.07 after a short-term rally, combined with cautious market sentiment.

2. What is XRP’s current market cap and volume?
XRP holds about $178 billion in market cap with $5.14 billion in 24-hour volume, showing active trading across major exchanges.

3. What factors could drive XRP higher?
An XRP ETF approval, Ripple’s regulatory clarity, or macro stability could reignite bullish momentum and push the token beyond $3.