XRP News Today: Market Awaits SEC Spot ETF Decision to Spark XRP Rebound

September Blues Sends XRP Crashing

XRP faced a brutal start to the week, plunging to a session low of $2.6935, its lowest level since July 12.

Notable tailwinds have failed to snap the current downtrend, extending into a five-day losing streak. Notably, XRP has been on the retreat since the Fed cut interest rates on Wednesday, September 17. While the FOMC Economic Projections signaled two further rate cuts in October and December, sticky inflation challenges the Fed’s dovish rate path.

A stronger US dollar has complicated the picture for XRP and the broader crypto market. 10-year US Treasury yields climbed for the fourth consecutive session, supporting the US Dollar Index’s rebound from a September 17 low of 95.804. The DXY closed at 97.335 on Monday, September 22.

While currently up 2.73% for the month, XRP’s five-day losing streak risks consecutive monthly losses. The token dropped 8.14% in August despite the SEC and Ripple withdrawing their appeals and the resolution of the SEC vs. Ripple case.

October Skies Look Brighter: Demand Shift Could Trigger XRP Breakout

Monday’s losses came despite tailwinds circulating ahead. October could potentially be a historic moment for XRP, with spot ETF final deadline decisions looming.

21Shares, Bitwise, Canary Capital, CoinShares, Franklin Templeton, Grayscale, and WisdomTree have XRP-spot ETFs pending an SEC decision. Except Franklin Templeton, the ETF issuers have final decision deadlines ranging from October 18 to October 25. The SEC could potentially approve all seven spot ETFs on October 18 to avoid giving some issuers a first-to-market advantage.

The launch of an XRP-spot ETF market could coincide with a surge in retail demand for alternative assets. On Monday, September 22, Republican party members of the US House Committee on Financial Services, chaired by Rep. French Hill, sent a letter to SEC Chair Paul Atkins.

Nine Republican lawmakers signed a letter addressed to Chair Atkins, expressing their support for President Trump’s August 7 Executive Order, ‘Democratizing Access to Alternative Assets for 401(K) Investors.’ The letter stated:

“We encourage the SEC to provide swift assistance to the Secretary of Labor and to make any necessary revisions to its current regulations and guidance. We also request the SEC review bipartisan legislation being advanced in the 119th Congress concerning accredited investors.”

The lawmakers underscored the potential impact of crypto investments qualifying for 401(K)s, stating:

“We are hopeful that such actions will help the 90 million Americans that are currently restricted from investing in alternative assets to secure a dignified, comfortable retirement.”

Unlocking crypto to 401(k)s, further Fed rate cuts, and the approval of XRP-spot ETFs could create a perfect storm for the token.

Nate Geraci, President at NovaDius Wealth Management, commented:

“A record $7.7 tril currently parked in money market funds… Average yield = 4.1%. If rates continue to decline, does that $$$ look to find a home elsewhere? If so, where does it go?”

Price Action & Technical Analysis: Drop Toward $2.5 or Rally to $3

XRP slid 4.06% on Monday, September 22, following Sunday’s 0.09% loss, closing at $2.854. Tracking the broader market trend (-3.13%), the five-day losing streak left XRP well below the key $3 level. Traders are watching the following technical levels:

• Support: $2.8 and $2.5.
• Resistance: $3, $3.2, $3.335, and the all-time high at $3.66.

In the near term, several key price catalysts could drive price action:

• XRP ETF flow trends.
• Spot ETFs: Approval or delays of XRP-spot ETFs and BlackRock’s plans for an iShares XRP Trust filing.
• Blue-chip companies’ stances on XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s US-chartered bank license application, the Market Structure Bill, and SWIFT headlines may also affect demand.

Catalysts & Scenarios

The balance of inflows, regulatory developments, and institutional appetite will determine whether XRP tests lower supports or breaks higher resistance.

Bearish Scenario

• BITW, GDLC, and XRPR report weak inflows, and BlackRock dismisses plans for an iShares XRP Trust filing.
• SEC declines XRP-spot ETF applications.
• Legislative setbacks or slow progress on crypto-friendly regulations.
• Blue-chip companies decline to use XRP as a treasury reserve asset.
• OCC delays or rejects Ripple’s US-chartered bank license.
• SWIFT maintains global dominance, capping Ripple’s market access.

These bearish events could push XRP below $2.8, exposing $2.5, the next key support level.

Bullish Scenario

• BITW, GDLC, and XRPR register strong inflows.
• BlackRock applies for an iShares XRP Trust, and the SEC green-lights XRP-spot ETFs.
• Blue-chip companies acquire XRP as a treasury reserve asset, and more payment platforms adopt Ripple technology.
• Ripple secures a US-chartered bank license, and the Senate passes the Market Structure Bill.
• Ripple impacts SWIFT’s market share of global remittances.

These catalysts could drive XRP toward $3. A break above $3 may pave the way toward $3.2. A sustained move above $3.2 could open the door to testing $3.335.

Conclusion: Will BlackRock and Capitol Hill Trigger an XRP Rebound?

The Market Structure Bill and XRP-spot ETF approvals could trigger a recovery, potentially sending the token to fresh highs. However, ongoing delays to spot ETF approvals and regulatory roadblocks may drag prices toward key support levels.

Analysts will closely monitor how regulatory and economic risks affect XRP’s trajectory in the coming weeks.