Market Overview for XRP/Tether (XRPUSDT) – 2025-10-03

• XRPUSDT rose from $2.9672 to $3.0693 in 24 hours, with a 2.8% gain and strong volume activity.
• A bullish breakout above 3.05 confirmed on the 15-minute chart, with RSI nearing overbought.
• Bollinger Bands showed a recent expansion, suggesting increased volatility and potential continuation.
• Volume surged during the late afternoon session, confirming the rally but showing signs of consolidation at close.
• Key resistance at 3.0731 and support at 3.0131 could dictate short-term direction amid mixed momentum cues.

The XRP/Tether (XRPUSDT) pair opened at $2.9672 at 12:00 ET – 1 and closed at $3.0693 at 12:00 ET today. The 24-hour range extended between a low of $2.9672 and a high of $3.0731. Total trading volume reached 57.6 million units, while notional turnover was approximately $173.8 million, reflecting strong participation and a significant upward bias in price.

Structure and formations on the 15-minute chart showed a clear bullish momentum from 16:00 to 19:45 ET, with a large bullish engulfing pattern forming after a consolidation phase. A key resistance level appears at $3.0731, with the 38.2% Fibonacci retracement of the last swing at $3.0618 and 61.8% at $3.0264. A break above the 3.0731 level could test the next psychological level of $3.10.

Moving averages on the 15-minute chart suggest a bullish crossover, with the 20-period SMA rising above the 50-period line. The daily chart shows the 50 SMA at $2.9954, the 100 SMA at $2.9865, and the 200 SMA at $2.9756, with the current price well above the key multi-period averages. This indicates a stronger short-term bullish bias.

The RSI has reached 68, suggesting the pair is approaching overbought territory, while the MACD remains positive with a healthy histogram. Bollinger Bands have widened, signaling increased volatility, and the current price is near the upper band, suggesting a potential consolidation or continuation. Divergence between volume and price was observed in the early morning hours, hinting at a potential pause in the upward move.

The Backtest Hypothesis builds on the 15-minute bullish engulfing pattern and the confirmation of a short-term breakout above key resistance. A backtesting strategy could involve a long entry at $3.0537 with a stop-loss at the 61.8% Fibonacci level of $3.0264 and a take-profit at the next psychological level of $3.0731 or the 38.2% extension at $3.0964. This approach leverages both technical structure and volume confirmation to capture a potential continuation. A trailing stop could be employed once the price clears $3.0731 to secure gains.