- XRP failed to hold the $3.12 level and faces resistance at $3.30.
- Strong investor accumulation occurred between $2.70 and $3.00, according to on-chain data.
- The recent Federal Reserve interest rate cut did not help XRP move above $3.18, leading to further selling pressure.
- Long-term technical indicators suggest a possible 60%–85% rally for XRP in the fourth quarter.
- Recent profit-taking has lessened, with new investors entering the market and supporting a positive long-term outlook.
XRP saw its price rally by 18% earlier in September, rising from $2.70 to $3.18, but failed to break above the $3.20 mark. The cryptocurrency declined after reaching this peak and retested support at the $3.00 level.
On September 18, following the Federal Reserve’s interest rate cut, XRP was unable to move higher, remaining below the $3.18 level and adding selling pressure as it struggled to stay above its 50-day simple moving average (SMA), a widely used trend indicator.
Futures trader DOM observed that bulls could not hold the $3.12 mark this week, which he identified as key for a move toward $3.30. “Bulls failed to hold $3.12 area earlier in the week, which I stated would be the challenge for a push to $3.30. That idea remains, with all eyes on that level being flipped to support (battling now). No substantial passive resistance in the order books until that ~$3.30 target area.” This puts $3.30 as immediate resistance, with $3.18 needed for upward movement to continue.
On-chain metrics indicate strong investor accumulation between $2.70 and $3.00, with Net Holder position change remaining positive since August 22. The period before this saw profit-taking that pressured prices, but recent accumulation signals many investors expect prices to rise.
Additional data shows the Realized Profit/Loss Ratio rose sharply in recent weeks, its largest increase since November 2024. This metric tracks profit taking versus losses, indicating that new investors have entered the market, absorbing earlier selling pressure.
Technical analysis based on repeating chart patterns, or “fractals,” suggests XRP is following a cycle similar to earlier this year. The Q1 structure, with lows around $2.70 and a move through the Fibonacci golden pocket, points to the possibility of a 60%–85% rally in the coming quarter. According to these projections, XRP could reach the $5.00–$5.50 range from current levels.
Less significant details include comparisons to other digital assets and related technical outlooks provided in the source content, such as comments from traders and references to Glassnode data.
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