XRP faces significant pressure as it struggles to break past the crucial $3 mark, with its price recently touching $3.05 before slipping back to the $2.99 range. This tight trading band has triggered strong selling near intraday resistance levels, though buyers have repeatedly defended the $2.99 support zone. Trading volumes have doubled, and large accounts have reportedly withdrawn over $300 million, signaling intense market activity. Analysts suggest that a decisive breakout above the $3.04–$3.05 range could push XRP toward $3.10, especially as traders eye key macroeconomic and regulatory events ahead.
From a technical perspective, liquidity around $2.99 remains strong, with multiple rebounds observed after attempts to breach heavy sell walls at $3.04–$3.05. Intraday price compression between $2.97 and $3.05 highlights short-term consolidation. A sustained move above $3.05 could trigger further bullish momentum, while a dip below $2.99 may indicate weakening support. Confirmed closes above $3.05 are viewed as vital for traders seeking long positions, while failed breakouts could lead to renewed accumulation near $2.99. Despite large-scale sell-offs driving volatility, persistent buying at lower levels may hint at growing strength beneath the surface.
In the medium term, market sentiment surrounding XRP is heavily influenced by two key catalysts: the Federal Reserve’s upcoming interest rate decision and the anticipated ETF timeline. Rising expectations for a rate cut, combined with regulatory updates, could support upward momentum toward $3.10 in the near future. However, delays or repeated rejections at resistance could extend the consolidation phase. A confirmed breakout above $3.05 may validate a technical move toward the $3.10–$3.12 zone, while a fall below $2.99 could heighten volatility once again.