XRP has shown significant strength by rallying over 8% from daily lows, crossing the $3 mark during the September 9-10 trading session. This surge is attributed to increased institutional interest following clearer regulatory frameworks in Europe, particularly due to Ripple's new partnership with BBVA under MiCA compliance. Analysts note that while the token defended its $3.00 level amidst fluctuations, rising XRP exchange reserves may present challenges for longer-term price momentum. Key developments include speculation about an upcoming U.S. ETF approval, which has led to strong bullish positioning among derivatives traders. XRP's trading activity saw significant volume spikes during its recent climb, and analysts are monitoring whether it can maintain daily closes above $3.00 to sustain this bullish trend. The growing institutional involvement, alongside exchange reserve dynamics, suggests a complex interplay affecting XRP's future price trajectory.

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