XRP News Today: XRP's Quiet Rally: Why Bulls Are Eyeing $2.90 as a New Threshold

XRP’s price action has shown signs of stabilization amid bearish market conditions, with long-term moving averages offering a cautiously optimistic outlook for the altcoin. According to recent price data, XRP has been consolidating around the $2.78 support level, with bulls showing resistance at $2.83 and pushing toward potential breakout targets at $2.90, $3.05, and $3.20 [3]. This consolidation phase has coincided with heightened volatility in the broader crypto market, but XRP’s technical indicators suggest that short-term buyers are regaining control [3].

The 5-period and 10-period moving averages are currently positioned at $2.787 and $2.817, respectively, just below the current price level, reinforcing the idea that XRP has short-term bullish momentum. Analysts monitoring the price action note that a sustained break above $2.90 could signal stronger institutional interest and potentially unlock further upside. Conversely, a pullback to $2.78 could trigger a deeper correction to $2.70 or even $2.65, particularly if broader market sentiment deteriorates [3].

Coinbase, one of the largest cryptocurrency exchanges, has recently seen a dramatic reduction in its XRP holdings, with reserves plummeting by approximately 83% since June 2025 [2]. The exchange now holds XRP in just 10 cold storage wallets, compared to 60 previously, with each wallet holding roughly 16.5 million XRP. This reduction has sparked speculation about the motivations behind the move, including potential reallocation to on-chain liquidity environments or institutional outflows. Some observers believe this could be a strategic response to shifting demand dynamics, as other exchanges like Binance, Bitget, and Bybit continue to increase their XRP holdings and dominate in XRP-related trading volumes [2].

The XRP ecosystem continues to evolve with a renewed focus on institutional adoption, as Ripple’s XRP Ledger (XRPL) positions itself as a settlement layer for financial institutions. The ledger’s ability to facilitate fast, low-cost, and compliant cross-border transactions has attracted attention from banks and currency exchangers, and Ripple recently launched its own stablecoin on the XRPL, which could serve as a key funding and settlement tool for customers [1]. The resolution of Ripple’s legal dispute with the Securities and Exchange Commission on August 22 has also reduced regulatory uncertainties, making XRP a less risky option for investors [1].

Despite this progress, XRP still faces competition from other blockchain platforms vying for the same institutional capital, and its long-term success depends on Ripple’s ability to execute its vision effectively [1]. In the short term, however, the bearish pressure has eased slightly, and price action suggests that the coin is finding a base after a period of significant volatility. For investors considering XRP as part of their portfolio, the key will be to monitor institutional demand, regulatory developments, and how effectively Ripple can expand its partnerships and product offerings.

Source: [1] Is XRP the Smartest Cryptocurrency to Buy With $1000 Right Now? (https://www.nasdaq.com/articles/xrp-smartest-cryptocurrency-buy-1000-right-now) [2] Coinbase Dumps 83% XRP; Reserves Down From 60 To 10 Wallets (https://dailycoin.com/coinbase-dumps-80-xrp-reserves-down-from-60-to-10-wallets) [3] XRP Price Prediction: Why Early Crypto Investors Are (https://www.mitrade.com/insights/news/live-news/article-3-1097045-20250905)