XRP Rejected Above $3, Closes Lower as Sellers Dominate

1 day ago

XRP’s aboriginal rally into $3.07 met dense organisation connected elevated volume, leaving a high-volume ceiling intact and pulling terms backmost to $2.98. Institutional prints confirmed $3.07 arsenic resistance, portion repeated defenses adjacent $2.98 kept losses contained.

News Background

XRP slipped 1% from Oct. 5, 03:00 to Oct. 6, 02:00, retreating from $3.01 to $2.98 contempt opening strength.

The token spiked to $3.07 successful aboriginal hours, lone to look concentrated selling pressure.

Analysts said organization desks were progressive astatine resistance, with turnover 17% supra regular averages. Despite bearish power done overmuch of the session, XRP ended with a rebound disconnected $2.98, signaling continued accumulation interest.

Price Action Summary

XRP traded a $0.09 corridor, oregon 3% intraday range, betwixt $2.98 and $3.07.
Price peaked astatine $3.07 earlier crisp rejection connected 64.3M tokens, vs. 54.7M average.
Selling unit dragged XRP to $2.98, wherever enactment was repeatedly defended.
A late-session dip triggered a 1.95M-volume flush to $2.979, instantly absorbed by buyers.
Rebound flows stabilized terms adjacent $2.98, with betterment volumes averaging 750K per bar.

Technical Analysis

Resistance is firmly established astatine $3.07, validated by above-average selling unit and repeated failures to interruption higher. Support holds astatine $2.98, wherever buyers consistently stepped in, including a high-volume flush absorbed precocious successful the session.
Price enactment reflects a rejection-driven pullback wrong a $3.07–$2.98 band. While sellers dominated two-thirds of the session, the defence of $2.98 shows institutions proceed to accumulate connected dips, keeping the operation intact for different effort higher.