XRP Holds Near $1.50 as Institutional Interest and Technical Uncertainty Persist

XRP is trading at $1.52 as of October 5, up slightly by 1% in 24 hours, holding steady near the $1.50 support level. Despite a Seoul event featuring four Korean financial institutions, Woori Bank, KBank, Kyobo Securities, and either Jeonbuk Bank or Kakao Bank, alongside Ripple, the token has yet to break out of its consolidation range. The event introduced XRP Asia, a regional initiative, but it did not provide concrete evidence of banks actively buying or transferring XRP.

Technically, XRP faces a tight trading range, with immediate support between $1.47 and $1.50. A break above $1.60 could target resistance levels around $1.80 to $2.00. Trading volume surged by 33.70% to $1.51 billion, but this alone does not confirm a directional move.

Ripple’s latest escrow release of 1 billion XRP on October 1, valued at approximately $1.49 billion, adds uncertainty over supply impact. Additionally, the Senate’s rejection of the CLARITY Act removes a potential near-term regulatory catalyst. Bullish scenarios depend on holding support and breaking resistance, while bearish risks focus on a drop below $1.47, shifting attention to $1.20.

Meanwhile, Maxi Doge ($MAXI), an Ethereum-based meme token, is gaining early-stage interest. Priced at $0.0002842 during its presale, the project offers staking rewards and trading competitions, though it remains a meme-driven asset with speculative appeal.