Crypto Market Crosses $3T: XRP Jumps 6% as Bitcoin, Ethereum Catch Up

The total crypto market cap just crossed $3.06 trillion. That is a 2.10% jump in a single day, backed by $121 billion in trading volume.

Bitcoin is trading at $86,512.14. Ethereum sits at $2,757.80. But the real story today is XRP, up 6.30% and outpacing both of the bigger coins.

This rally comes as the Crypto Fear & Greed Index reads 71, still in "Greed" territory, though cooler than yesterday's 78.

Why Is Crypto Market Up Today?

Money is flowing back into crypto after a quieter stretch last week. The Fear & Greed Index moved from 51 (Neutral) last week to 71 (Greed) today.

That is a big mood swing in just seven days. Traders seem to be getting more confident, but not as confident as they were yesterday, when the index touched 78, or Extreme Greed.

Is Bitcoin Still in a Bull Market?

Bitcoin touched $88,000 this week. That broke above its old resistance near $82,300, a level analysts had been watching closely.

Some traders call this the official return of a bull market. On the daily chart, the MACD indicator has turned bullish, and Bitcoin slipped into overbought territory.

That is likely why price cooled a bit to around $86,500 after the push higher.

Bitcoin has also posted gains in July and August, and looks set to close September higher too. A three-month winning streak like this has only happened once before in Bitcoin's history.

The broader price structure has followed what is known as a Wyckoff accumulation pattern. If that pattern keeps playing out, some analysts see a path toward $90,000 to $100,000.

Others think the top lands closer to $92,000, followed by a pullback into the low $70,000s before another move higher into 2027. Neither path is certain. Both assume the bigger trend has already turned up.

Why Is Ethereum Stuck Near $2,800?

Ethereum is trading near $2,750, right under resistance at $2,800. This level has flipped between support and resistance again and again since 2024.

Nearly every major ETH move, up or down, has pivoted around this same zone.

Ethereum's 3-day RSI has moved into overbought territory too. A bearish divergence is starting to form, where price makes higher highs but momentum does not confirm the move.

A similar pattern showed up right before Ethereum's last short-term slowdown a few weeks ago. Technical traders expect something like that again this week, a cooling-off period rather than a crash.

If ETH closes firmly above $2,800 and holds there, the next target zone opens up toward $3,200 to $3,600.

XRP News Today: Why Is XRP Price Up Today?

XRP's setup looks less stretched than Bitcoin's or Ethereum's right now. It is bouncing off support near $1.30 and heading toward resistance around $1.70, following the broader move in Bitcoin and Ethereum.

Veteran trader Peter Brandt has pointed to a long-term XRP chart with an eventual target of $5.40. That is a long-range view, not a short-term call.

XRP rallied about 30% from $1.25 to $1.58 recently. Chart watchers say this move completed the right shoulder of a large inverse head-and-shoulders pattern on the daily chart.

Whales have also been accumulating XRP, adding more than $2 billion worth recently.

Right now, a lot comes down to the $1.70 level. A clean break above that neckline could confirm the pattern and open the door to another 23% move toward $2.

How Much Crypto Was Liquidated in the Last 24 Hours?

Fast moves like this always shake out leveraged traders. Over the past 24 hours, $276.43 million in crypto positions were wiped out, according to CoinGlass data.

Short positions took the bigger hit, at $175.64 million, compared to $100.80 million in long liquidations.

Bitcoin led all liquidations at $64.66 million, followed by Ethereum at $45.34 million. ZEC saw $20.08 million in liquidations, and XRP had $16.07 million.

In total, 87,410 traders got liquidated in the past day. The single largest order happened on OKX, a BTC-USDT-SWAP position worth $4.84 million.

Heavy short liquidations usually mean traders bet against the rally and got caught out as prices moved up instead.

Should You Buy Crypto Now?

The crypto market cap climbing past $3 trillion is a notable milestone, but the mood behind it is mixed. Greed is high, yet not as extreme as it was a day ago.

Bitcoin looks strong but is running hot on short-term indicators. Ethereum is stuck at a wall it has tested for two years. XRP looks like it has more room to move if it clears $1.70.

None of these setups guarantee a specific outcome. Crypto markets can turn quickly, especially with this much leverage still in play.

Disclaimer

This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile and risky. Always do your own research before making any investment decisions.