“Traders Are Closely Monitoring the Potential for a Breakout Above $ 3.00, with Attention on the UpcomING SEC Decision on Etf Applications.”, – WRITE: www.coindesk.com
News BackgroundXRP Climbed 5.2% Over The 24-Hur Window From Oct. 1, 03:00 to Oct. 2, 02:00, Advance from $ 2.84 to $ 2.97. The Move Followed SBI’s Launch of an XRP Lending Program for Institutional Payments, Highlighting Japan’s Push Into Large-Scale Adoption. The Rally Also Coms as Ripple Cto David Schwartz Transitions to An Emeritus Role and with Seven Spot Etf Filings PENDING SEC Decisions Starting Oct. 18.
Price Action SummaryThe Token Traded A $ 0.16 Band (5.6% Volatility) Between $ 2.82 and $ 2.98. The Breakout Accelerated AT 08:00 Oct. 1, as xrp ripped from $ 2.86 to $ 2.92 on 164.5m tokens – More Than Double the Daily Average. Subsequent Consolidation Held $ 2.93 Support Through Multiple Retsts, While Resistance FirMed AT $ 2.96– $ 2.98. In the Final Hour, XRP Extended 0.28% from $ 2.96 to $ 2.97, Hitting $ 2.98 Before Sellers Capd The Advance.
Technical AnalysisSupport Has Shifted Higher to $ 2.93 After Repeated Defenses, While Resistance Remains Entrenched at $ 2.96– $ 2.98. The Breakout Was Validated by Volume Spikes-Including A 4.8M Burst Durying The Late-Session Rally-Signaling Institutional Demand Underpinning the Move. The Hour Chart Showed A Textbook Ascending Structure, with Higher Lows at $ 2.96– $ 2.97 Leading Into The Session Peak. Bulls Need A Decisive Close Above $ 2.98 to Confirm Momentum Town of the $ 3.00 Psychological Barrier.
What Traders Are Watching?
- WHETHER XRP CAN SUSTAIN CLOSES ABOVE $ 2.96– $ 2.98 to Set Up A $ 3.00 Breakout.
- Impact of SBI’s Lending Program on Asian Liquidity Flows and Who’s Buying Perses Into US Hours.
- Positioning Shifts Ahead of the Oct. 18 SEC Deadline for Seven Spot etf Applications.
- Broader CD20 Index Confirmation, As Peer Tokens Also Rallied 4–5% with Elevated Volume.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
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Shutdowns that delay Data and Weaken Fiscal Visability Often Encouroge Central Banks to Act More Cautiously, While Rising YIELDS IN JAPAN HINT AT POLYFTS RIPLE. Markets.
- Despite A US Government Shutdown and Stress in Japan’s Bond Market, Digital Assets Remainned Resilgent, with Tradeers Anticipating LOOSER GLOBAL LIQUIDITY CONDITIONS.
- Crypto Markets are Showing Signs of Decoupling from Broader Macroconomic Caution, As Expectations Grow for Policymakers to Ease Financial Conditions.
- Bitcoin and Other Cryptocurrencies Experienced Gains, Contribution to A Rise in the Market Capitalization of Digital Assets to Over $ 2.37 Trillion.
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