The post XRP Price to Eye $3.10 as Ripple Update Pushes Bulls? appeared first on Coinpedia Fintech News
XRP has made a silent comeback, tracing back to its critical support and sparking renewed optimism in the market. XRP price, as I write this analysis is trading at $2.91, with a 2.97% premium since yesterday, and with a market cap of $174.06 billion. Trading volume has also been active at $5.14 billion, hinting at increasing participation from both retailers and big players.
The broader bullish trend comes after Ripple introduced a major upgrade to the XRP Ledger. And speculation about a potential U.S. spot XRP ETF. With these developments, XRP appears to be gearing up for its next decisive move. So buckle up, as we decode the potential entry and exit zones for XRP.
Why Is XRP Price Going Up?
Ripple’s recent credentials initiative, activated on September 6, has given the XRP Ledger a major boost. The update introduces native KYC/AML attestations for decentralized identities, making compliance seamless for institutions. This move not only reduces verification process but also positions XRPL as a key infrastructure for the next wave of tokenized assets. Which is a market projected to exceed $16 trillion by 2030.
Adding to the bullish narrative, betting markets now price a 95% chance of U.S. spot XRP ETF approval by October 2025. Giants like Grayscale, VanEck, and Bitwise have filed amended S-1 forms, hinting at advanced regulatory discussions. Together, these developments have put XRP back on the radar of long-term investors.
XRP Price Analysis
On the price chart, XRP has reclaimed the $2.85–$2.90 support zone, nullifying the bearish setups that dared to push the token lower last week. The price is now trading above the 7-day SMA at $2.82, while still just shy of the 30-day SMA at $2.98.
Currently, XRP faces a stiff ceiling at the 38.2% Fibonacci retracement level near $3.10. A daily close above this resistance would be a bullish signal, potentially paving the way for a push toward $3.35. However, if XRP price fails to sustain above $2.84, it may invite profit-taking and open the door to a retest of the immediate support at $2.75. In a deeper correction, the price could slide further to the $2.55 base.
FAQs
The key resistance lies at $3.10, the 38.2% Fibonacci level. A close above it could target $3.35.
Immediate support is at $2.84, followed by $2.75. A deeper drop could test $2.55.
The price jumped after Ripple enabled native KYC/AML attestations on XRPL, boosting institutional adoption prospects.