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CoinDesk 2025-09-30 05:46:17

XRP Holds Above $2.90 as ETF Decisions Loom

XRP gained 2.1% during the 24-hour trading session from September 28 at 21:00 to September 29 at 20:00, climbing from $2.84 to $2.90 while moving within a $0.10 range that represented 3.47% of the opening price. News Background • Large institutional addresses holding between 10–100 million XRP tokens accumulated over 120 million coins across the last 72 hours. • Seven XRP spot ETF applications remain pending before the U.S. Securities and Exchange Commission. Grayscale’s submission is scheduled for October 18, with others queued through November 14, creating a concentrated window of regulatory catalysts that could reshape near-term flows. • Market sentiment has been buoyed by anticipation of increased corporate portfolio exposure. Analysts frame ETF approvals as a structural driver that could accelerate XRP’s adoption within institutional allocation strategies. Price Action Summary • XRP traded within a $0.10 corridor, fluctuating between a low of $2.84 and a high of $2.93, reflecting 3.5% volatility during the period. Price capped out near $2.93 where selling pressure intensified, particularly during the September 29 14:00 session. • The most significant upward moves came at 02:00 and 07:00 GMT on September 29, where volume spiked to over 97 million units. These surges significantly outpaced the daily average of 57.4 million, confirming institutional participation during rally phases. • The final hour of trading extended the advance, as price moved from $2.88 to $2.90 for a 0.7% late gain. The breach of the $2.90 psychological barrier was confirmed by a 4.8 million unit volume burst, taking the session to its highs before settling around $2.9045. Technical Analysis • Resistance is clustered between $2.92 and $2.93, where price repeatedly stalled on higher volume. This zone marks the next hurdle for continuation, with breakout confirmation likely requiring a close above $2.93 on expanding participation. • Support has consolidated between $2.85 and $2.86, where buyers consistently defended bids during retracements. Multiple successful retests of this band throughout the session highlight its importance as an accumulation zone. • The $2.90 psychological level has shifted into a near-term pivot. Price reclaimed it in the late session, and traders will monitor whether this can hold as support heading into the weekend. • Volatility over the 24-hour window reached 3.47%, consistent with elevated institutional repositioning around key regulatory catalysts. What Traders Are Watching • Whether XRP can sustain closes above $2.90 and flip this into support, which would validate continuation attempts toward $3.00 and beyond. • The SEC’s October–November ETF review window, with Grayscale’s October 18 date seen as the first major structural catalyst for institutional inflows. • Whale wallet activity, with 120 million tokens accumulated over three days suggesting further upside if this pace continues. • Broader macro conditions, with Treasury yield volatility and Fed policy signals influencing risk appetite across both equities and digital assets.

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