- XRP saw a sudden wave of buy pressure, including a $3M order filled in 100 milliseconds.
- Price spiked to $2.91 before cooling to $2.86, while trading volumes remain a concern.
- Potential ETF approvals and Ripple’s Swell conference could fuel another leg higher toward its $3.65 record.
The Ripple-linked XRP token had an intense burst of demand today, with more than $10 million in net buy pressure flooding in under 10 minutes. One standout order—a massive $3 million market buy on Binance perpetual futures—was executed in just 100 milliseconds. That kind of lightning-fast move chewed through sell liquidity and shot XRP to an intraday high of $2.91.
At the moment, the token trades around $2.86 after giving back a bit of steam, according to CoinGecko. Still, the surge feels significant. The only caution flag? XRP’s overall trading volume has dropped sharply in recent days, a trend that could dampen momentum if it continues. It’s a reminder that even bullish spikes can sometimes fade if buyers don’t stick around.
Why XRP Could Still Rally
September usually weighs heavy on crypto, often a red month for both Bitcoin and altcoins. Yet XRP has a few catalysts lined up that might help it break that trend. For one, the market is buzzing with ETF speculation. The SEC is widely expected to approve XRP ETFs before the end of the year, with issuers like Franklin Templeton and Bitwise already in line. While BlackRock and Fidelity haven’t stepped in yet, strong inflows into these products could fuel a powerful narrative shift.
Adding to that, Ripple’s annual Swell conference is scheduled for early November. The event often brings fresh announcements and media buzz, both of which could shine a brighter spotlight on XRP. Investors know hype cycles can be as strong as fundamentals in this market, and timing could play into XRP’s favor heading into Q4.
Chasing the All-Time High
For perspective, XRP is still about 20% below its all-time high of $3.65 set just two months ago, driven heavily by South Korean demand. If ETF approvals and Swell excitement align, traders will be watching to see if XRP can close that gap—or even push into uncharted territory. The ingredients for another breakout are on the table, but whether buyers can sustain momentum after quick surges remains the key question.
