XRP News Today: Investors Stake Bets as XRP Hedges on ETF Fate

Ripple's XRP has seen a notable price movement of 3% in recent trading sessions, drawing attention from both retail and institutional investors. This rise places XRP as the second-best performer among the top 10 cryptocurrencies, trailing only Dogecoin (DOGE). Analysts attribute this surge to heightened speculative activity driven by anticipation of upcoming cryptocurrency exchange-traded fund (ETF) decisions. Specifically, the U.S. Securities and Exchange Commission (SEC) is expected to make a decision on October 18, which has sparked renewed interest in XRP and other altcoins with pending ETF applications [1].

XRP's price rally is supported by derivative market activity, as futures trading volume increased by 17%, while open interest—a measure of new positions—rose by 3% over the past 24 hours. This suggests that speculative demand is intensifying as investors position for potential ETF approvals [1]. CoinMarketCap data also indicates that the 3% price increase coincided with a 10.3% decline in 24-hour trading volume, a sign that the move is largely driven by leveraged positions rather than broad market participation [1].

On a technical level, XRP has consolidated near $2.88, with the Bollinger Bands tightening around key support and resistance levels at $2.70 and $3.07, respectively. The relative strength index (RSI) has improved to 48.3, indicating that the asset is moving out of oversold territory and potentially setting the stage for a breakout. If XRP breaks above $3.07, the next target is $3.20, and further gains could extend to $3.45 if ETF speculation intensifies. However, bearish risks remain, as weak spot trading activity and potential macroeconomic pressures could trigger liquidations, dragging the price down to $2.70 or even $2.50 [1].

In parallel, XRP has attracted significant accumulation from investors over the past month, with approximately 1.7 million tokens acquired. This activity reflects growing confidence in the asset's recovery potential, despite ongoing volatility in the broader crypto market. Glassnode data shows the largest net position change in XRP in over two years, reinforcing the view that investors are positioning for a potential price rebound [2]. Additionally, the network value to transactions (NVT) ratio has surged, reaching a two-month high, which may signal that the asset is becoming overvalued relative to its transaction activity. While this could temporarily hinder price gains, it also indicates strong accumulation by long-term holders [2].

The XRP/ETH pairing has also shown structural signs of potential outperformance, according to analysis by CrediBULL, a prominent crypto analyst with a large following. The pairing has developed bullish divergences on daily and three-day charts, often seen before trend reversals. CrediBULL argues that XRP's nine months of consolidation above prior highs suggest a buildup of accumulation, while Ethereum, having recently hit a new all-time high, is more likely to consolidate in the short term. This divergence in market timing positions XRP as a potential breakout candidate as Ethereum potentially enters a period of consolidation [4].

Analysts remain cautious, however, as XRP's broader adoption remains limited compared to Ethereum, which is supported by a vast developer network and institutional backing. While XRP is used in cross-border payments and financial infrastructure, Ethereum's role in decentralized applications and smart contracts makes it more versatile. Additionally, Ethereum's active developer community and institutional ETFs give it a stronger foundation for long-term growth [3]. Despite this, the speculative environment around XRP remains strong, with seven active ETF applications in review and growing investor interest.

Source:

[1] Ripple (XRP) Price Moves Toward $3 as Community ... (https://finance.yahoo.com/news/ripple-xrp-price-moves-toward-215804400.html)

[2] XRP Price Receives Major Bullish Indicator After Record Buy (https://beincrypto.com/xrp-price-two-year-high-accumulation/)

[3] Better Crypto Buy: Ethereum vs. XRP (https://www.nasdaq.com/articles/better-crypto-buy-ethereum-vs-xrp)

[4] XRP vs ETH: Chart Patterns Hint at a Major Shift Coming Soon (https://captainaltcoin.com/xrp-vs-eth-chart-patterns-hint-at-a-major-shift-coming-soon/)