TL;DR

XRP consolidates under $3.15 as the Fed meeting and ETF listing drive market attention this week. Short squeeze possible above $3.15, where large sell orders and stop-losses are tightly clustered. Futures volume surges as traders position for volatility ahead of key economic and market events.

Price Holds Above $3 as Traders Watch Key Levels

XRP is trading near $3.04, showing strength as it approaches its previous peak of $3.6. The price recently broke out of a long-term downtrend that had been in place since 2021. That move came with a rise in volume, suggesting steady participation.

Over the last several sessions, the asset has moved sideways just below resistance. This type of setup often appears when a market is building pressure.

According to recent chart signals, so far, indicators remain firm. Momentum is holding, and key levels are in play. RSI is climbing without hitting overbought zones, and the stochastic oscillator is rising again after a recent dip. MACD continues to show upward momentum.

$XRP is just one step away from breaking its ATH.

The FOMC meeting is scheduled at tomorrow, and the odds of a rate cut are 100%. And the first $XRP ETF will be listed on Thursday.

We could soon see $XRP surpass its ATH and begin a real rally. pic.twitter.com/YTparvG0tB

Attention Turns to Fed Meeting and ETF Launch

The US Federal Reserve meets September 16–17. Markets expect a rate cut, which would be the first of the year. This outcome could lead to more liquidity and risk-taking. That shift often benefits markets like crypto.

According to data from Polymarket, there is now a 93% probability of a 25 basis point rate cut at the September 17 FOMC meeting. The chance of no change stands at just 2.6%, while the odds of a larger cut or increase are negligible.

Source: Polymarket In addition, the first XRP exchange-traded fund is scheduled to list this week. A listing of this kind may open the door to new inflows. Traders are watching closely to see how both events will affect short-term price action.

Short Zone Found Near $3.15

A concentration of sell orders is sitting between $3.10 and $3.15, based on heatmap data. Analyst CW posted that “If $XRP rises to $3.15, most short positions will be liquidated.” This suggests stop-loss levels may be clustered in that area.

A move through this zone could force short sellers to close positions. That would add buying pressure and possibly drive the price higher in a short time. This area now acts as an important technical point.

Market Structure Remains Intact

Chart levels remain clear. Short-term resistance is seen at $3.13. The daily chart shows $3.045 as a pivot, while $2.88 marks key support. Analyst CryptoWZRD noted that “We now need to wait for the market to form the next healthy trade.” That comment followed a bullish close on the daily candle.

Futures activity is also rising. Analyst Captain Redbeard said that XRP futures volume is “exploding,” pointing to similar patterns seen before large breakouts. Open interest has climbed as well, suggesting traders are preparing for volatility.

Buyers recently pushed the price back above $3.00 and have kept it there despite pressure. According to our recent prediction, weekly levels show support at $3.00 and resistance at $3.20, $3.60, and $4.00. The next few sessions could be key in determining whether XRP makes a move past the previous high.