XRP Price Stays Steady as ETF Decisions Loom
XRP is trading at around $2.82, with little change from the previous day.The token has been hovering between $2.83 and $3.09 for the past week, showing a period of consolidation.This price range is about 22% lower than its July peak of $3.65.
Trading activity has slowed down. Daily volume dropped to $4.38 billion, a 38% decrease from the previous day. Derivatives activity has also declined. According to CoinGlass data, open interest fell to about $8.47 billion, and futures volumes decreased by more than 40%. Traders seem to be reducing leveraged positions as they wait for regulatory clarity.
October is a crucial month for XRP. The U.S.Securities and Exchange Commission (SEC) is expected to make multiple ETF rulings between Oct. 18 and 25.Major issuers like Grayscale, Bitwise, and 21Shares have pending applications for XRP funds.
However, the U.S.government shutdown has caused delays.The SEC has furloughed most of its employees, halting regular reviews. This could dampen near-term momentum for XRP, though long-term approval expectations remain high.
Technically, XRP is moving sideways. The daily chart shows the price near $2.89,suggesting a neutral phase. The relative strength index is at 43, indicating no strong directional momentum.If buying pressure returns and the price closes above $3.10,XRP may revisit the $3.30 region. If ETFs are approved, price targets could range from $3.30-$5 short-term to over $12 by the end of Q4.
