XRP Holds Firm Above $2.90 as ETF Review Window Approaches
XRP maintained gains above $2.90, supported by ongoing institutional accumulation and the looming U.S. SEC review of spot XRP ETFs. Seven ETF applications remain under consideration, with Grayscale’s filing set for October 18 and others lined up through November 14, creating a concentrated period of regulatory catalysts likely to influence market flows.
During the 24-hour session from September 28, 21:00 GMT, to September 29, 20:00 GMT, XRP rose 2.1%, moving from $2.84 to $2.90 within a $0.10 range, reflecting 3.47% volatility from the opening price.
Institutional Participation
Large holders with 10–100 million XRP accumulated over 120 million tokens in the past 72 hours. Analysts say ETF approvals could act as a structural driver, potentially accelerating XRP adoption among institutional investors.
Price Action Summary
- XRP traded between $2.84 and $2.93, with selling pressure intensifying near $2.93 during the September 29, 14:00 GMT session.
- The most significant moves occurred at 02:00 and 07:00 GMT, when volumes spiked above 97 million XRP, surpassing the daily average of 57.4 million, indicating institutional buying.
- In the final hour, XRP advanced from $2.88 to $2.90, a 0.7% gain, with a 4.8 million token volume spike confirming a hold above the psychological $2.90 level.
Technical Levels
- Resistance: Clustered at $2.92–$2.93, requiring a close above $2.93 on increasing volume to confirm a breakout.
- Support: Found at $2.85–$2.86, repeatedly defended during pullbacks, forming a strong accumulation zone.
- Psychological Pivot: The $2.90 level now serves as a near-term pivot; sustaining it could pave the way toward $3.00.
- Volatility: 3.47% over the 24-hour window, highlighting active institutional repositioning around regulatory catalysts.
What Traders Are Watching
- Whether XRP can hold $2.90 as support, signaling continuation toward $3.00.
- The SEC’s October–November ETF review period, with Grayscale’s October 18 date as the first major catalyst.
- Whale wallet activity, with 120 million tokens accumulated over three days pointing to potential further upside.
- Macro factors, including Treasury yield swings and Fed policy signals, which could affect risk appetite across crypto and traditional markets.
