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XRP bulls on the rise: Will the price soon rise above $3?
XRP is seeing a price rally on 10/2/2025 as optimism in the market drives long positions and a $3.00 breakout phase approaches.
XRP bulls on the rise: Will the price soon rise above $3?
In the dynamic world of cryptocurrencies, Ripple’s XRP is currently showing remarkable bullish momentum. Loud FXStreet XRP bulls are observing positive market sentiment, supported by increasing interest from retail investors. This development has led to a significant increase in long positions as XRP approaches the important $3.00 mark.
XRP is currently trading above $2.93, indicating an optimistic market development at the beginning of October. This positive sentiment in the crypto market could act as a catalyst for the upcoming price target. A crucial factor is the increase in open interest positions, which rose to a level of 0.0099% - a significant increase compared to 0.0011% the previous Friday. This indicates aggressive market participation that could continue to pick up in the coming weeks.
Positive market indicators
The stabilization of XRP exchange reserves after a surge in September shows growing investor confidence. Currently, the reserve stands at approximately 3.57 billion XRP on the Binance exchange, stable since an increase of 2.92 billion XRP at the end of August. These stable values suggest that investors may be less susceptible to volatility.
With a Relative Strength Index (RSI) of 62, XRP is under buying pressure and has moved out of oversold areas. In addition, the Moving Average Convergence Divergence (MACD) on the daily chart gave a buy signal, which suggests further positive price movements. Traders are looking closely at key technical resistance, particularly the resistance zone at $3.18, which was last tested in mid-September.
Conclusion and outlook
Overall, XRP could be working towards a break above $3.00 in the near term. Current market data and rising interest suggest that bull momentum could continue to gain momentum. The crypto market is pleasingly stable at the beginning of October, which offers a good starting point for new investments in XRP. FXStreet will continue to closely monitor developments to inform investors of changes in the market.