XRP Holds Above $3 as ETF Hype and SBI Lending Fuel Institutional Demand
Seven XRP ETF filings remain under SEC review, with first decisions expected on Oct. 18.
XRP extended its rally above $3.00 on Thursday, supported by heavy institutional flows and optimism surrounding pending U.S. ETF approvals. Renewed lending activity from Japan’s SBI Holdings added to momentum, as traders identified a solid short-term base near $2.99. Resistance remained firm at $3.10 following a surge in trading volume.
Market Context
Between Oct. 2 (04:00 UTC) and Oct. 3 (03:00 UTC), XRP gained 3%, climbing from $2.98 to $3.03. The move coincided with SBI Holdings expanding its institutional XRP lending program — signaling Japan’s growing engagement with crypto markets.
Meanwhile, Ripple CTO David Schwartz confirmed his departure after 13 years, a notable leadership change ahead of a major regulatory milestone. The SEC continues to review seven XRP ETF applications, with the first decisions expected by Oct. 18.
Prediction markets now assign a 99% probability to approval, reinforcing speculative inflows from both retail and professional traders.
Price and Volume Overview
- Trading Range: XRP fluctuated between $2.95 and $3.10, a 4.9% intraday range.
- Volume Spike: At 16:00 UTC, XRP surged from $3.00 to $3.06 on 212.6M tokens traded, more than double the daily average.
- Resistance Zone: Heavy turnover near $3.10 capped upside momentum.
- Accumulation Zone: The token consolidated between $3.00–$3.05, signaling accumulation above the psychological $3.00 mark.
- Institutional Rebalancing: Late-session volumes showed structured selling and re-entry, typical of professional portfolio adjustments.
Technical View
XRP’s support remains anchored between $2.99 and $3.00, repeatedly defended by institutional bids. Resistance continues to build near $3.10, where sellers concentrated during the rally.
The pattern suggests controlled accumulation ahead of a potential breakout. A daily close above $3.10 could open a path toward $3.20, with momentum hinging on ETF-related catalysts in mid-October.
Key Factors to Watch
- Sustained closes above $3.00 and potential retests of $3.10.
- Institutional positioning ahead of the Oct. 18 SEC ETF decision window.
- SBI’s lending impact on Asian liquidity conditions.
- Correlation with the broader CD20 index as altcoin rotations mirror XRP’s strength.
