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XRP Gains Momentum Above $2.90
XRP has entered a pivotal phase as its price consolidates above the crucial $2.90 support level ahead of a highly anticipated series of ETF decisions. With seven spot XRP ETF applications pending before the U.S. Securities and Exchange Commission (SEC), the next six weeks could redefine institutional participation in the asset and potentially unlock a new bullish phase for Ripple’s native token.
From September 28 to September 29, XRP rose 2.1%, climbing from $2.84 to $2.90 in a tightly traded range, as large-scale accumulation by institutional whales continued. Over 120 million XRP tokens were purchased by wallets holding between 10 million and 100 million coins in just 72 hours — a sign that smart money is positioning ahead of possible ETF approvals.
The market’s focus is now on whether XRP can maintain this critical support and build momentum toward the psychologically significant $3.00 level, a breakout that many analysts view as a gateway to broader adoption and inflows.
Institutional Demand Fuels Price Strength
A key driver behind XRP’s recent resilience has been the surge in institutional demand. Wallets associated with major investors and funds have significantly increased their holdings, underscoring growing confidence in the asset’s medium-term prospects.
The most intense accumulation occurred during two specific trading windows — 02:00 and 07:00 GMT on September 29 — when volume spiked to over 97 million XRP, far exceeding the daily average of 57.4 million. These volume bursts coincided with upward price moves, confirming that institutional activity is directly influencing price action.
This wave of buying is closely tied to anticipation around the pending XRP spot ETFs. Analysts expect that regulatory approval could dramatically expand the asset’s presence in corporate portfolios and ETF-based products, creating consistent inflows and reinforcing XRP’s status as a leading digital asset in cross-border payments and institutional finance.
SEC Decisions Drive Market Anticipation
The spotlight is now firmly on Washington, D.C., where the SEC is reviewing seven spot XRP ETF applications. The timeline is particularly significant:
- Grayscale’s ETF proposal is scheduled for a decision on October 18, making it the first major catalyst on the horizon.
- Other applications will follow through November 14, creating a tight six-week window in which regulatory decisions could arrive in rapid succession.
This compressed review period has heightened market anticipation. Analysts argue that a single approval could spark a wave of institutional allocations, while multiple approvals might transform XRP from a speculative asset into a strategic component of institutional portfolios.
ETF approvals would also legitimize XRP’s role in financial markets, potentially attracting capital from risk-averse investors and family offices that have so far avoided direct crypto exposure. The result could be a significant expansion in trading volume, liquidity, and overall market capitalization.
Key Technical Levels to Monitor
Technical indicators support a cautiously bullish outlook for XRP, though several key price levels will determine whether momentum continues.
- Resistance Zone ($2.92 – $2.93): XRP repeatedly faced selling pressure near $2.93 during the recent session. A decisive close above this zone, accompanied by rising volume, would likely confirm the next leg of the rally.
- Support Band ($2.85 – $2.86): Buyers have consistently defended this range, making it a critical accumulation zone. Multiple successful retests suggest strong underlying demand.
- Pivot Level ($2.90): Reclaimed during the final hour of trading, this level now acts as a short-term pivot. Sustained closes above $2.90 could trigger momentum toward $3.00.
Volatility during the last 24 hours stood at 3.47%, consistent with historical patterns during periods of institutional repositioning and regulatory uncertainty.
Price Action Signals Growing Confidence
XRP’s recent trading behavior reflects growing confidence among market participants. The token traded within a narrow $0.10 corridor — between $2.84 and $2.93 — during the 24-hour period, suggesting that sellers are struggling to drive price lower even as buying interest intensifies.
The most notable development was the late-session breakout above the $2.90 psychological barrier, supported by a final-hour volume burst of 4.8 million units. This push signaled strong demand even at elevated price levels and laid the groundwork for a potential retest of $2.93 resistance in the days ahead.
If buyers manage to sustain this momentum, a breakout above $2.93 could open the door to a test of the $3.00 level, a milestone that could shift market sentiment decisively in favor of bulls.
Whale Activity Hints at Further Upside
Whale wallet activity continues to be one of the most closely watched indicators for XRP traders. The accumulation of 120 million XRP tokens over three days indicates that large holders expect significant price appreciation in the near future.
This type of sustained accumulation typically precedes major market moves, particularly when combined with other bullish catalysts such as ETF decisions. If accumulation persists at the current pace, analysts believe XRP could see accelerated gains in Q4 2025, potentially extending beyond the $3.00 level.
Macroeconomic Factors Add Complexity
While XRP-specific catalysts dominate headlines, broader macroeconomic conditions remain an influential backdrop. U.S. Treasury yield volatility, evolving Federal Reserve policy signals, and shifting risk appetite across global markets could all impact crypto asset flows in the weeks ahead.
If macro conditions support risk-taking — for instance, through dovish Fed language or declining yields — institutional demand for crypto assets like XRP could increase further. Conversely, a sudden risk-off shift in financial markets might temper enthusiasm, at least temporarily, even in the event of favorable ETF decisions.
Outlook: All Eyes on October 18
The coming weeks represent a critical inflection point for XRP. As the first ETF decision date of October 18 approaches, traders and investors alike are positioning for potentially market-shifting outcomes.
A successful ETF approval — particularly one led by a major asset manager like Grayscale — could trigger a powerful re-rating of XRP’s value, attracting significant institutional inflows and reinforcing its utility in cross-border settlement infrastructure.
Even absent immediate approval, the continued accumulation by whales, strong technical structure, and sustained price support above $2.90 all suggest that XRP remains well-positioned for upside over the medium term.
Conclusion: XRP’s Defining Moment Approaches
With seven ETF decisions on the horizon, XRP is approaching one of the most consequential periods in its recent history. The convergence of regulatory catalysts, institutional accumulation, and bullish technicals has created a fertile environment for a potential breakout.
If XRP can hold above $2.90 and break through the $2.93 resistance zone, a push beyond $3.00 could follow swiftly. In that scenario, ETF approval could serve as the spark for a broader institutional wave — one that propels XRP from a promising altcoin into a core component of digital asset portfolios worldwide.