XRP traded around $2.98 at the time of this update, marking a 2% increase over the last 24 hours and a 6% rise over the week. Analysts suggest that holding above the $2.80 level could be crucial for its continued rebound.

$2.80 As a Key Support

Crypto analyst Ali Martinez stated that XRP has defended the $2.80 level, which represents a realized cost basis for many investors. Data from Glassnode indicates that approximately 2.18 billion tokens, accounting for over 3% of the circulating supply, last changed hands at this price.

"$XRP held $2.80 as support. As long as it does, there are no major supply walls to block a rebound."
— Ali (@ali_charts) October 2, 2025

Just below this level, the distribution is thinner, resulting in less immediate selling pressure and allowing room for growth if demand increases.

Expected Breakout Around $3.18

CoinsKid pointed out a descending triangle pattern where XRP has been navigating between declining resistance and horizontal support. The current price is testing resistance just below $3.00, while $2.80 remains as the support base.

“If we can see #xrp take out the upper red line, we could begin targeting an impulsive move to at least $4.13.”
— CoinsKid October 2, 2025

Additionally, EGRAG CRYPTO has identified $3.13 as a critical pivot level on the Fibonacci retracement chart, stating, “If we close above $3.13, we might aim for a minimum of $4.40.”

— EGRAG CRYPTO (@egragcrypto) October 2, 2025

Overall, XRP’s price action remains crucial as adoption expands. Recent developments, including SBI Holdings launching an XRP lending program, and notable changes in Ripple’s leadership, highlight a transformative period for XRP. So, keep an eye out for SEC decisions on pending spot XRP ETF applications beginning October 18.