XRP Surges to $3 But Faces $950M Sell Pressure: Can Bulls Push Toward $4 Next?

XRP roared again above $3.00 in early Asian buying and selling, reclaiming key psychological help as Bitcoin’s march to contemporary highs energized altcoin flows.

But the transfer comes with a caveat: on-chain trackers flagged 320 million XRP ($950Million) transferring onto exchanges over the previous week, an overhang that might check patrons’ resolve as worth approaches a crowded resistance band.

With ETF chatter heating up and Ripple’s banking ambitions in movement, the following leg hinges on whether or not bulls can soak up provide and pressure a clear breakout towards $4.00.

Bitcoin Tailwinds, XRP ETF Buzz, and Banking Ambitions

Momentum spilled over from Bitcoin’s surge above $125K, traditionally a positive backdrop for large-cap alts like XRP.

Traders additionally level to seven lively spot XRP ETF filings slated for October choice home windows, doubtlessly binary catalysts for This fall, and Ripple’s software for a U.S. OCC banking license, which, if accepted, may bolster institutional-grade custody, settlement, and on-chain liquidity providers.

In parallel, Asia hours confirmed persistent accumulation alerts earlier within the week, with whale-linked wallets snapping up dips round $2.95–$3.00.

$3.10–$3.30 Is the Battleground; $4.00–$4.20 on Break

Technically, XRP’s construction retains a bullish tilt. Price is holding a contemporary base round $2.95–$3.00, with the 50-day SMA close to $2.93 and Parabolic SAR help round $2.74 cushioning draw back.

A multi-month symmetrical triangle from July looms overhead. Traders are watching a each day shut above $3.12–$3.30 to validate breakout circumstances. Clear that band on sturdy quantity, and fashions level to $3.38 to $3.67 then $3.95, with extensions into the $4.00–$4.20 zone if momentum accelerates.

Indicator-wise, RSI 54 leaves headroom earlier than overbought, whereas a pending MACD bullish cross helps continuation. Derivatives are leaning constructive too, with open curiosity up 4% to $8.9B, signaling rising participation.

The $950M Question: Can Bulls Absorb Supply?

The essential threat lies in renewed provide stress, as alternate balances climbed from 3.45 billion to 3.85 billion XRP between September 26 and October 5, whereas ‘Age Consumed’ spikes recommend that some long-term holders have joined in profit-taking.

If these tokens rotate into asks, bulls should defend $3.00 / $2.93 to stop a drift towards $2.85–$2.75. Conversely, a swift soak of presents at $3.10–$3.30 would sign depth and certain set off trend-following flows.

Cover picture from ChatGPT, XRPUSD chart from Tradingview