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XRP experienced a notable increase of 2.1% during the trading session from September 28 at 21:00 to September 29 at 20:00, rising from $2.84 to $2.90. This movement occurred within a narrow range of $0.10, representing 3.47% of the opening price. As the crypto world eagerly awaits ETF decisions from regulatory bodies, XRP’s price action is drawing significant attention.
Recent Accumulation by Institutional Investors
In the last 72 hours, large institutional addresses holding between 10–100 million XRP tokens have accumulated over 120 million coins. This surge in accumulation indicates a growing confidence among institutional players, further fueling market sentiment.
Pending ETF Applications and Regulatory Catalysts
Currently, seven XRP spot ETF applications are pending before the U.S. Securities and Exchange Commission (SEC). Among these, Grayscale’s submission is scheduled for review on October 18, with others queued through November 14. This concentrated window of regulatory catalysts is expected to reshape near-term market flows significantly.
Analysts believe that ETF approvals could serve as a structural driver, accelerating XRP’s adoption within institutional allocation strategies. This anticipation is raising the stakes for XRP as it approaches critical price levels.
Price Action Overview
During the observed period, XRP traded within a $0.10 corridor, fluctuating between a low of $2.84 and a high of $2.93. This reflects a volatility rate of 3.5%. The price peaked at $2.93, where selling pressure intensified, especially during the September 29 14:00 session.
The most significant upward movements occurred at 02:00 and 07:00 GMT on September 29, with trading volume spiking to over 97 million units, significantly above the daily average of 57.4 million. This surge confirms robust institutional participation during critical rally phases.
As the final hour of trading approached, XRP’s price moved from $2.88 to $2.90, ending the session with a 0.7% gain. The breach of the $2.90 psychological barrier was confirmed by a volume burst of 4.8 million units, driving the price to settle around $2.9045.
Technical Analysis: Key Levels to Watch
Resistance levels for XRP are clustered between $2.92 and $2.93, where the price has repeatedly stalled on higher volume. To confirm a breakout, a close above $2.93 on increasing participation is essential.
On the support side, consolidation has occurred between $2.85 and $2.86, where buyers have consistently defended their positions during retracements. Multiple successful retests of this band throughout the session underscore its significance as an accumulation zone.
Having reclaimed the $2.90 psychological level in the late session, traders will monitor whether this can hold as support leading into the weekend. Volatility over the 24-hour window reached 3.47%, in line with heightened institutional repositioning around key regulatory catalysts.
What Traders Should Monitor Moving Forward
As we look ahead, several factors will be critical for XRP’s price trajectory:
- Can XRP sustain closes above $2.90 and convert this into support? A successful hold could validate attempts toward $3.00 and beyond.
- The SEC’s ETF review window from October to November is crucial, with Grayscale’s October 18 review date being the first significant catalyst for potential institutional inflows.
- Whale wallet activity has seen 120 million tokens accumulated over three days, indicating potential for further upside if this accumulation trend continues.
- Broader macroeconomic conditions, including Treasury yield volatility and Federal Reserve policy signals, will influence risk appetite across equities and digital assets.
Conclusion: XRP’s Future in a Transforming Market
As XRP navigates through this pivotal moment with ETF decisions looming, its price action and institutional interest suggest a promising outlook. The confluence of regulatory catalysts and market sentiment could lead to significant movements in XRP’s price. For investors looking to delve deeper into XRP and its potential, resources on XRP, XRP price predictions, and how to buy XRP are invaluable.
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Meta Description: Discover how XRP surged above $2.90 as institutional investors accumulate tokens and anticipation builds for upcoming ETF decisions. Explore market dynamics, price action, and what traders should watch moving forward.
