XRP Price Stays Steady as ETF Decisions Loom
XRPS price is Steady as ETF Decisions Approach
XRP’s price is holding steady at around $2.82. Traders are waiting for key ETF decisions in mid-October. The U.S. government shutdown has slowed trading activity.
XRP has been trading between $2.83 and $3.09 for the past week. This shows a period of consolidation. The price is about 22% lower than its July peak of $3.65. Trading volume has dropped to $4.38 billion, down 38% from the previous day.
Derivatives activity has also decreased. Open interest is now at $8.47 billion, and futures volumes are down over 40%. Traders are winding down leveraged positions as they wait for regulatory clarity.
October is a crucial month for XRP. The U.S. Securities and exchange Commission (SEC) will decide on multiple ETF applications between Oct. 18 and 25.Major issuers like Grayscale, Bitwise, and 21Shares have pending applications.
Optimism grew in September after the SEC approved simplified listing rules for commodity-based ETFs.however, the U.S. government shutdown has delayed reviews. This could dampen near-term momentum, but expectations for eventual approval remain high.
Technically, XRP is moving sideways.The price is just below the middle Bollinger band at $2.89. The relative strength index is neutral at 43.If buying pressure returns and the price closes above $3.10,XRP may revisit the $3.30 region. If etfs are approved, price targets range from $3.30-$5 short-term to over $12 by Q4 end.
