Markets
What to know:
- XRP saw a volume surge on September 11 thanks to institutional buys-yes, the big wallets are waking up!
- Ripple‘s BFF status with BBVA enhances its street cred, making it feel like the cool kid at the crypto high school. š«
- All eyes are glued to XRP’s wrestling match with the $3.05 mark and how the rising exchange reserves could turn into a plot twist you didn’t see coming.
So,
News Background
ā¢ Ripple decided to play nice with BBVA (because who doesnāt love a little institutional legitimacy with their crypto?) under the EUās fancy MiCA rules.
ā¢ Meanwhile, the rest of the crypto world is keeping a close eye on the macroeconomic soap opera-whoās saying what about rates? Grab your popcorn!šæ
ā¢ XRP futures open interest spiked to $8.36 billion, hinting that traders might be placing their bets on upcoming ETF gossip.
ā¢ And donāt forget the whales! They’ve been hoovering up 340M XRP tokens recently while exchanges refill like it’s a Black Friday sale on crypto! š
Price Action Summary
ā¢ XRP bounced from $2.98 to $3.05 like it was on a trampoline-hello, 1.85% gain!
ā¢ Peak buying happened at noon when volume soared to 243.37M. Thatās four times the daily snore-fest average. Go, XRP, go!
ā¢ Resistance decided to camp out near $3.07 after a few failed attempts were like āNo thanks!ā to midnight ambitions.
ā¢ And just like that, a little late-night disarray saw XRP dip from $3.06 to $3.04-oh, the drama!š± Nonetheless, it still closed above $3.04. Letās keep the optimism alive!
Technical Analysis
ā¢ Support is chilling comfortably at $2.98-big buyers are throwing it a lifeline.
ā¢ Resistance is having a bit of a party between $3.05 and $3.07, where rejections are becoming a regular thing. Yikes!
ā¢ This descending triangle at around $3.00-$3.07 is like a cliffhanger-what’s gonna happen next? š¤
ā¢ And look at those volume spikes! They were like āSurprise, weāre here to distribute!ā before deciding to rally back.
ā¢ RSI is giving a thumbs up-some buying momentum is lurking in the shadows, but beware of the lurking exchange inflows!
What Traders Are Watching
ā¢ Can XRP keep flexing above $3.05 and throw down a challenge at $3.07? If so, we might just be on the highway to $3.20!
ā¢ Traders are wary of exchange reserves peaking-could this be a āwarning, mayday!ā sign if the whales decide to take a breather?
ā¢ Rippleās BBVA partnership is stirring the pot as institutions look to dive in, which could mean good news for price stability. Fingers crossed!
ā¢ Also, derivatives are looking bullish now, with call options flipping puts 3-to-1. Everyoneās placing their bets just before September 12’s ābig revealā.
ā¢ Finally, what do the central banks have to say? Itās their world, and weāre just living in it-letās see how they affect the flow of large-cap cryptos!
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2025-09-12 06:58