XRP Price Steadies Near Crucial Resistance
On September 7, XRP rose 2.4% to $2.8783. The move brought the token closer to the $3 mark in people’s minds. This level is very important to traders.
After weeks of unpredictable movement, the recovery happened. Earlier this month, XRP dropped to as low as $2.6990. The price is still going up because people are still interested in buying.
ETF Speculation Fuels Market Optimism
Investors were hopeful because the DOGE-spot ETF was about to launch. Some analysts think that the SEC may be moving toward a wider framework for crypto ETFs. Now, XRP traders are looking for possible spot approvals.
If XRP-spot ETFs start trading, demand from institutions could go up. Investors see these products as ways for the general public to start using them. Once approvals come in, market momentum could pick up speed quickly.
DOGE ETF Launch Sends Broader Signal
The Rex-Osprey DOGE ETF will be available soon. It is the first spot ETF that is connected to the Dogecoin memecoin. Analysts think it shows that the SEC is open to change.
If DOGE gets the green light, XRP might too. A standardized ETF framework would give regulators a reason to approve more things. Traders are keeping a close eye on these events.
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XRP Performance Lags BTC and ETH Gains
In August, Bitcoin hit a record high of $123,731. Ethereum also had a record day for ETF inflows, with $4,958. These actions show how strong spot ETFs are.
XRP, on the other hand, has fallen behind. The token went back down after hitting a record high of $3.66 in July. Investors are waiting for regulators to be clear before making big bets again.
Technical Levels Guide Trader Sentiment
XRP has a lot of support around $2.70 and $2.50. Levels of resistance are $3.00, $3.335, and $3.66. If it breaks $3, it would show that bullish momentum is getting stronger.
If the price doesn’t hold at $2.70, it could lead to selling pressure. Traders see $2.50 as the last line of defense. These technical dynamics will be greatly affected by market news.
A Perfect Storm for XRP ETFs, Bank License, and Clarity
The strongest bullish factor is still the approval of an XRP-spot ETF. BlackRock could apply for an iShares XRP Trust, which would make it more credible. Adoption by institutions may happen quickly.
Ripple’s push for a US-chartered bank license gives us more hope. If the Senate passes the Market Structure Bill, XRP could go up because of the clarity. These things together could lead to new records.
XRP’s Upside at Risk: Regulatory Delays and SWIFT Dominance
There is still a chance of regulatory setbacks. If the SEC takes too long to approve ETFs, investors may lose patience. XRP could then fall back below $2.70.
It can also be hard to deal with SWIFT’s dominance in remittances. If Ripple doesn’t grow its market share, the upside momentum could fade. Even though traders are hopeful, they are still careful.
