XRP’s early push to $3.07 faced strong selling on elevated volume, establishing the level as firm resistance and pulling the price back to $2.98. Support near $2.98 held through repeated tests, reflecting ongoing institutional accumulation.

Market Overview
Between Oct. 5, 03:00 and Oct. 6, 02:00, XRP declined 1%, retreating from $3.01 to $2.98 despite an early surge. The token briefly spiked to $3.07 but encountered concentrated selling pressure. Analysts noted institutional desks were active at resistance, with turnover 17% above daily averages.

Price Action Highlights

• XRP traded in a $0.09 range (3% intraday) between $2.98 and $3.07.
• Price peaked at $3.07 before a sharp rejection on 64.3M tokens, compared to the 54.7M daily average.
• Selling pushed XRP back to $2.98, where support was repeatedly defended.
• A late-session dip to $2.979 on 1.95M volume was quickly absorbed by buyers.
• Recovery flows stabilized price near $2.98, with rebound volumes averaging 750K per bar.

Technical Analysis
Resistance at $3.07 remains robust, validated by repeated rejections and above-average selling. Support at $2.98 has held consistently, even during high-volume dips. The price action reflects a pullback within the $2.98–$3.07 band. Despite selling pressure dominating much of the session, institutional interest on dips signals potential for another attempt higher.

Key Levels to Watch

• $2.98 as a critical support level in upcoming sessions.
• $3.07 as a resistance ceiling and whether it can be breached.
• Signs of sustained institutional inflows, especially ahead of ETF catalysts.
• Potential move toward $3.10 if XRP reclaims control above $3.03.