XRP briefly surged past $3 for the first time in nearly two weeks, peaking at $3.03 before settling at $2.96. An analyst believes XRP’s price action signals renewed interest from large investors.
XRP’s Price Surges Past $3
On Sept. 9, XRP breached the $3 mark for the first time in nearly two weeks, sparking excitement that bullish sentiment may have reignited interest in the world’s third-largest digital asset. According to market data, XRP briefly touched $3.03 before retreating to settle around $2.96 at 1:30 p.m. EST. At that price, the cryptocurrency’s market capitalization stood at $176 billion—nearly $8 billion more than USDT.
XRP’s brief rally was seemingly fueled by reports that Ripple will provide its digital asset custody technology to Spanish banking giant BBVA. The partnership is said to enable BBVA to meet growing customer demand for access to crypto and other digital assets, while maintaining strict security, operational, and regulatory standards. Supporters of XRP view the collaboration as a boost to Ripple’s reputation as a bridge between traditional finance and crypto.
Meanwhile, some analysts believe the digital asset is poised to regain the momentum that saw it climb to $3.66 in July. Arthur Azizov, founder and investor at B2 Ventures, sees XRP’s recent move above $3 as a signal that institutional interest may be returning.
“Today, XRP is at an interesting crossroads. The token has surpassed $3.00 psychological level and is currently traded slightly below $3.05, with volumes nearly three times above normal. This tells me ‘big’ money is active. Support at around $2.90 holds well, while sellers actively defend the key $2.99-$3.00 area,” Azizov asserts.
Key Catalysts: Fed Rate Cut and ETF Decisions
Azizov suggests that a widely anticipated U.S. Federal Reserve interest rate cut—repeatedly called for by the Trump administration—could be one of two major forces shaping XRP’s next move. A rate cut is expected to weaken the dollar and drive capital toward cryptocurrencies like XRP. He also points to whale activity, citing recent acquisitions of $600 million in XRP as a sign of growing confidence ahead of the U.S. Securities and Exchange Commission’s (SEC) upcoming ETF decisions in October.
Azizov outlined potential scenarios for XRP in the coming weeks:
Currently, $3.00 is exactly that line to watch. A strong daily close above it could trigger a quick run toward $3.30 and even $3.50 if the ETF is eventually approved with future momentum to $4.00 level. But if XRP falls below $3.00 and breaks through $2.90, we could see a drift back to $2.80 and lower as traders take profits.
While a pullback remains possible, Azizov maintains that the odds favor an upside breakout, with XRP likely to enter Q4 as one of the stronger large-cap tokens.
Author: Terence Zimwara
Source: Bitcoin
Reviewed By: Editorial Team
