XRP's price is currently hovering around $2.81, with a slight decline of 1.75% in the past 24 hours. Despite this minor dip, the cryptocurrency is experiencing significant whale accumulation and growing speculation surrounding a potential ETF approval, fueling bullish sentiment among investors.
Institutional investors have been actively accumulating XRP, with reports indicating that over $3.8 billion worth of XRP was acquired between $3.20 and $3.30, establishing a strong support level in this price range. This strategic accumulation suggests confidence in XRP's long-term value.
The anticipation of a U.S. spot XRP ETF approval is another catalyst driving optimism. Analysts project that such an approval could unlock substantial institutional capital, potentially pushing XRP's price toward $5.50 in the near term. The SEC's decision on this matter is expected by mid-October 2025, adding a clear timeline for traders to monitor.
Technically, XRP is exhibiting a bullish pattern, with a symmetrical triangle formation suggesting a breakout could occur if the price surpasses resistance levels around $3.25. If such a breakout materializes, XRP could target higher price levels, including the $5.50 mark.
In summary, XRP's current price movement is characterized by strong institutional support and heightened anticipation of ETF approval. If these factors align favorably, XRP could see significant upward momentum in the coming weeks.
