Overview

• XRP rebounded toward $2.95 on Wednesday but remains capped below the $2.90–$3.00 resistance zone, with buyers defending the $2.70–$2.80 support that defines a weeks-long triangle.
• Multiple analyses flag a bearish setup if support breaks, with incremental levels near $2.71–$2.65 and a technical target discussed as low as ~$2.07 should the descending structure fail.
• The next defined catalyst arrives in mid‑to‑late October, when the SEC faces final deadlines on seven spot XRP ETF applications, following the XRPR ETF’s ~$37.7 million first‑day volume last week.
• Market conditions remain fragile after a week that included roughly $1.5 billion in crypto liquidations in a single day, another $259 million over the past 24 hours, and a brief rebound that lifted Bitcoin back toward $113,900.
• On‑chain data show sustained selling by large Bitcoin holders—about 147,000 BTC (~$16.5 billion) since August—while XRPL ecosystem activity, including the mXRP yield token launch, underpins longer‑term adoption narratives.