XRP Price Nears $3 Thanks To Institutional Investors, But $700 Million Threat Remains
XRP is balancing between bullish institutional inflows and $693 million in selling pressure, with $2.95 as the key pivot toward or away from $3.
XRP price is showing signs of recovery after recent turbulence, fueling hopes among investors that the token could soon reach the $3 mark.
However, this upward momentum may face challenges from increased selling pressure unless institutional inflows provide the necessary support.
XRP Institutions Show Bullish Signs
Institutional interest in XRP has grown considerably, signaling confidence in its long-term potential. In the first week of the month alone, XRP attracted $14.7 million in inflows, making it the second-highest among altcoins, only behind Solana’s $16.1 million. This highlights sustained demand from large investors.
These institutional inflows suggest that XRP continues to be viewed as a reliable digital asset. The growing allocation from professional money managers could serve as a cushion against retail selling pressure. If the trend continues, institutions may help stabilize XRP’s price trajectory and enable a push toward $3.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter.
Institutional Netflows. Source
Despite the optimism from institutions, XRP is simultaneously facing increased exchange balances. More than 235 million XRP, worth over $693 million, was transferred to exchanges in the past week. This rise indicates heightened selling activity, reflecting a cautious stance among retail and short-term investors.
The sell-offs appear to be fueled by both broader market bearishness and profit-taking after XRP’s recent gains. While these moves allow traders to secure short-term profits, they could weigh heavily on price momentum.
XRP Exchange Balance. Source:
XRP Price Has Found Support
At the time of writing, XRP is trading at $2.95 while holding above its immediate support of $2.94. The price action reflects mixed signals, with institutions backing growth but sellers maintaining pressure. The balance of these forces will shape XRP’s near-term outlook.
If selling persists, XRP could consolidate above $2.94 or slide further to test support at $2.85. Such a scenario would delay its push toward the psychological $3 level, keeping the token rangebound until sentiment improves.
XRP Price Analysis. Source:
However, if investors opt to HODL rather than sell, XRP could break higher. Flipping $2.95 into support may enable the token to rally toward $3.07. Successfully breaching this resistance would strengthen the bullish case, invalidating the bearish outlook and marking a significant milestone for XRP.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitwise brings NEAR to Wall Street – But the chart isn’t impressed
Synopsys and OpenAI reach AI chip design partnership, stock price surges over 7%
Synopsys has signed a multi-year legally binding agreement with OpenAI to jointly develop GPT-Synopsys, a model specifically trained and fine-tuned for chip design tasks. OpenAI will pay Synopsys a subscription fee for tool licensing, and both parties will share revenue based on improvements in chip design achieved by customers using the product.
How does Wall Street view the PCE? Goldman Sachs delays expectation for Fed rate hike
After the lower-than-expected US August PCE data was released, Goldman Sachs delayed its expectation for the Federal Reserve's second rate hike from October to December, and stated that it does not rule out the possibility that the Fed may eventually decide no further hikes are necessary. "New Fed Newsletter" Timiraos noted that the PCE does not change the previously known trend of rising inflation. Currently, the market prices in a 39% probability of a rate hike in October, down from 45% before the PCE release; and a 90% probability in December. The yield on 2-year US Treasury notes dipped slightly after the PCE announcement and then rebounded, while the 10-year yield continued to rise.
Zeta Global stock jumps 9.43% intraday, flashes overbought signals
Crypto prices
More
