Key Insights:
- XRP price retested $2.83 support after rejection around $3.10.
- Amplify filed for an XRP ETF, with Polymarket giving 86% approval odds in 2025.
- Analysts highlighted technical levels, while SBI and Jim Cramer gave opposing views.
XRP price held at $2.83 support after failing to break $3.10 resistance earlier this week. The move aligned with analyst forecasts, while a new ETF filing suggested rising institutional interest in the token.
Was the rejection at $3.10 a sign of lasting resistance, or a setup for larger changes ahead?
XRP Price Tested Resistance and Confirmed Support
The XRP price advanced toward $3.10 but was rejected at that level. Analyst Ali Martinez had forecast a pullback, targeting $2.83 as the next support.
His view was based on chart resistance zones and prior levels of consolidation.
The rejection near $3.10 and retracement through $2.96 marked strong resistance. The price later stabilized at $2.83, confirming the technical support area. These levels gave traders clear benchmarks to watch for near-term moves.
Support refers to a price point where buying interest historically outweighs selling, preventing deeper declines. Resistance reflects the opposite, where sellers outweigh buyers. These markers help traders evaluate potential reversals or continuations.
At press time, XRP was trading near these same ranges, with relative strength index (RSI) sitting close to the neutral 50 line. RSI measures momentum; levels above 70 indicate overbought conditions, while levels under 30 show oversold pressure.
Ripple ETF Filing in Focus
Amplify Investments submitted an application for an XRP exchange-traded fund (ETF). If approved, the ETF would allow institutions to gain exposure to XRP without managing token custody.
Prediction market Polymarket estimated an 87% probability that the US Securities and Exchange Commission (SEC) would approve the ETF in 2025. Such approval would mark a significant step toward institutional adoption of the token.
ETFs offer regulated access to an asset. They track the underlying price and trade on exchanges like stocks. The introduction of a spot Bitcoin ETF in early 2024 brought record inflows, leading analysts to draw parallels with XRP’s potential.
Market observers said the filing signaled increased confidence from asset managers. However, SEC decisions on digital asset products have historically faced long delays. Approval would provide legitimacy in the eyes of traditional finance, but rejection could dampen optimism.
At press time, there was no SEC comment on the application. The review process was expected to extend into next year.
The ETF development fueled commentary across the sector. Tomoya Asakura, chief executive of SBI Global Asset Management, called XRP “the wealth transfer of our generation.” His statement reflected a view that the token could play a central role in future financial systems.
In contrast, television host Jim Cramer dismissed extreme forecasts, such as claims that XRP could climb above $589 in the near term.
His skepticism highlighted the divide between speculative narratives and chart-based analysis.
Martinez reinforced that traders should focus on observable levels rather than speculative projections. He pointed again to the $3.10 resistance and $2.83 support zones as key guides for near-term direction.
Looking forward, analysts expected the XRP price to continue trading between these levels until new momentum emerged. A break above $3.10 could open space for higher targets, while failure to hold $2.83 risked deeper retracement.
Technical signals remained balanced. RSI was near neutral at press time, suggesting neither strong buying nor selling momentum dominated. Funding rates in derivatives markets stayed flat, pointing to limited leveraged positioning.
What Next for XRP Price?
The XRP price was confined between $2.83 and $3.10 at the time of writing. Traders continued to monitor these boundaries for signs of a breakout or breakdown.
Institutional developments could prove more decisive over the medium term. The ETF application was a potential catalyst, but its outcome depended on SEC approval timelines.
Until then, market participants were left with the charts. The key test remained whether XRP could defend $2.83 support and eventually clear $3.10 resistance. The next sustained move was likely to emerge from that range.
Source: https://www.thecoinrepublic.com/2025/08/30/xrp-price-holds-2-8-support-as-ripple-etf-hopes-build/
