- XRP forms double bottom at $2.80, with $2.85 support key for retest of $3.00–$3.10 levels.
- Trading volume rose 28% to $9.33B, while market cap holds $163.23B with 475K active wallets.
- Derivatives volume hit $11.19B, but $20.21M liquidations were dominated by long positions.
XRP recently rebounded from the $2.80 support after forming a double bottom, pushing back toward the $3.00 resistance zone. The cryptocurrency is now attempting a pullback, with price consolidating around $2.91. Analysts noted that holding above $2.85 could strengthen bullish momentum for another retest of $3.00.
Market Performance and Technical Structure
XRP from late August to late September shows a double bottom formation in early September. According to analysis prepared by BitGuru, this provided structural support that sustained upward momentum. The market advanced beyond $3.10 before retracing in a controlled decline, with support again tested near $2.80.
The rebound from this level guided the market back toward the $3.00 zone. At present, XRP trades near $2.73 after intraday volatility. CoinMarketCap data shows a daily decline of 2.96%, with market capitalization at $163.23 billion.
Trading volume grew by 28.06% to $9.33 billion, which pushed the 24-hour volume-to-market-cap ratio to 5.72%. The circulating supply remains at 99.98 billion tokens, close to the capped supply of 100 billion. Holder numbers reached 475,000 wallets, reflecting sustained participation.
Derivatives Activity and Market Outlook
Derivatives data from Coinglass shows mixed movements across trading instruments. XRP derivatives volume increased 10.64 percent to $11.19 billion, while open interest declined 3.26 percent to $7.24 billion.
Options trading contracted sharply, with options volume falling 76.76 percent to $1.91K and open interest down 85.05 percent at $179.64K. Liquidation data showed $20.21 million cleared over 24 hours, dominated by $18.18 million in long positions. According to an observation by Kamran Asghar, XRP is coiling above the $2.60–$2.70 support zone.
He added that “the spring is compressed” and projected an aggressive move toward $4.03 once consolidation completes. Analysts agree that if XRP maintains stability above $2.85, a retest of $3.00 remains possible. A break beyond this resistance could open the path toward $3.10 and higher targets.
