XRP is trading at $2.99 after dropping 1.38% in the last 24 hours with $4 billion in trading volume. It touched $3.10 earlier this week before pulling back, despite positive news including a U.S. listed XRP ETF. Analysts say XRP could retest $2.90, with near term charts showing both caution and opportunity.
Analysts Eye $2.90 as Key Support for XRP
Market strategist Casitrades says $2.98 is the immediate support XRP must hold to avoid further downside. He sees a dip to $2.92-$2.94 as a “foundation zone” that could stabilize price action and set up a bounce.
Other traders echo this view, noting that XRP’s repeated tests around the $3 mark reflect healthy market interest. Instead of a breakdown, they argue the consolidation could be creating a base for recovery. That optimism rests on holding the $2.90–$2.98 corridor, which has now become the battleground for both bulls and bears.
Divergence suggests potential short-term upside. Analyst Casitrades warns of $2.90 test if $2.98 breaks. $2.92–$2.94 viewed as a solid recovery zone.XRP and Dogecoin ETFs Record $54M on First Day
Despite near-term caution, XRP continues to benefit from growing institutional recognition. The debut of the first U.S.-listed XRP and Dogecoin ETFs drew remarkable demand, recording $54.7 million in trading volume on launch day.
The XRP ETF (ticker XRPR) captured $37.7 million—marking the largest day-one volume of any ETF launched in 2025. Dogecoin’s ETF (DOJE) also impressed with $17 million, placing it among the top five performers of more than 700 new ETF listings this year.
The strong response underscores deepening investor appetite for altcoin-based financial products. Historically, most ETFs debut with only $1 million in daily trading. That XRP’s ETF exceeded expectations by such a wide margin reinforces its status as one of the most established digital assets in the market.
ETF Demand Highlights Investor Confidence
Despite short-term pressure, XRP continues to attract institutional attention. The debut of the first U.S.-listed XRP and Dogecoin ETFs drew strong demand, with combined day-one trading volume hitting $54.7 million.
The XRP ETF (XRPR) led with $37.7 million — the largest opening volume of any ETF launched in 2025.
Dogecoin’s ETF (DOJE) also impressed with $17 million, ranking among the top five performers out of more than 700 new ETFs this year.
For comparison, most ETFs launch with only around $1 million in initial trading. XRP’s exceptional debut underscores growing investor appetite for altcoin-based financial products and reinforces its position as one of the most established digital assets in the market.
XRP Technical Outlook and Future Price Path
Technically, XRP’s chart shows a descending triangle, a structure formed by lower highs pressing against firm horizontal support. The 50-day EMA is at $3.00, resistance, while the 200-day EMA is far below at $2.15, reinforcing the long term trend.
Fibonacci retracements from the July rally have $2.99 as the 0.382 level now under pressure, $2.79 the 0.5 retracement.
Momentum is mixed. The RSI is at 50, neutral. Candlestick patterns show rejection at the trendline, momentum is fading. Above $3.25 and it’s bullish, $3.43 and $3.66. Below $2.90 and it’s bearish, $2.79 or $2.58 before buyers step in.
For traders, $2.79-$3.25 is the range. Holding support and it’s a measured move to $3.60 and above, in line with ETF inflows.
Looking ahead, if liquidity and institutional participation continues to grow, XRP’s long term trend is intact, and $5 in the next big cycle is not out of the question.
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