XRP surged past the $3 threshold during the September 9–10 session as institutional flows accelerated on the back of regulatory clarity in Europe.

Ripple’s new partnership with BBVA under MiCA compliance fueled optimism that traditional banks may deepen adoption of blockchain settlement.

While bulls defended $2.99 support, analysts note rising exchange reserves could still weigh on sustained upside momentum.

News Background

• Ripple Labs announced an expanded partnership with BBVA, enabling digital asset custody and settlement solutions under EU MiCA compliance standards.
• Institutional ETF speculation continues in the U.S., with traders pricing October SEC decisions as a potential structural catalyst.
• Derivatives traders show strong bullish positioning with 3-to-1 call-to-put ratios concentrated between $2.90–$3.50 into September 12 expiry.
• Exchange reserves for XRP rose to 12-month highs, suggesting potential distribution pressure despite strong partnership news.

Price Action Summary

• XRP climbed from $2.97 to $3.02 during September 9 15:00–September 10 14:00, marking an 8% gain.
• Session high hit $3.02 during the 13:47–13:48 window with 4.36M and 3.44M volume spikes.
• Support consolidated at $2.94–$2.95 on strong volume validation.
• Token defended $3.00 despite intraday dip to $2.99, signaling institutional defense.
• Closing price of $3.01–$3.02 kept XRP inside bullish continuation zone.

Technical Analysis

• Volume: Peaks of 116.76M and 119.07M during surges, nearly 3x daily average of 42.18M.
• Support: Strong base at $2.94–$2.95; multiple successful retests confirm accumulation.
• Resistance: Break above $3.00 validated; next upside levels sit at $3.05–$3.10 Fibonacci extension.
• Momentum: Higher lows into breakout reinforce institutional buying interest.
• Structure: Breakout from consolidation zone suggests potential continuation if $3.00 floor holds.

What Traders Are Watching

• Whether XRP can sustain daily closes above $3.00 to confirm breakout strength.
• The SEC’s October ETF rulings as a structural catalyst for institutional capital inflows.
• Options expiry on September 12, where call-heavy positioning could amplify volatility.
• Exchange reserves climbing to 12-month highs — will inflows flip into sustained sell pressure?
• Follow-through from the BBVA–Ripple partnership as a signal for European bank adoption.