XRP Price News: $2.70 Support Holds, Spot ETF Headlines in Focus

Exchange Filing Amendments Fuel Speculation About Spot ETF Approvals

Speculation about the imminent approval of pending XRP-spot ETF applications intensifies as more amendment filings roll in. The Cboe, Nasdaq, and NYSE filed amendments to their recent filings that requested rule changes to fast-track Commodity-Based Trust Shares’ listing and trading under a standardized framework.

Greg Xethalis, General Counsel at Multicoin Capital, shared the latest filings, stating:

“CboE, BZX, the NYSE, and NASDAQ today filed amendments to their Commodity-Based Trust Shares ETF Generic Listing Standards. The amendments largely touch on a technical edit to remove ‘excluded commodities’ from the definition of ‘commodity’ in the GLS.”

Xethalis noted that there is no clear timeline for SEC action or clarity on whether more amendments will follow. He expects the Generic Listing Standards to evolve in time, but emphasized that Multicoin has already urged approval in their current form. He argued they are well-structured and would support efficient market operations.

In August, Xethalis shared Multicoin’s responses to the exchanges’ 19b-4 filings for rule changes after requests public comment.

The latest amendments suggest ongoing dialogue between exchanges and the SEC Crypto Task Force. If the SEC accepts the updated form of the GLS, it could roll out its standardized crypto ETF framework. Legal experts predict the SEC’s standardized framework will open the floodgates to crypto-spot ETF launches.

As exchanges make progress toward establishing a standardized crypto ETF framework, legislative developments could further influence sentiment.

US Senate Banking Committee Set to Release Updated Market Structure Bill

The end of the summer recess put crypto legislation back under the spotlight, potentially paving the way to a crypto-friendly regulatory landscape.

The US Senate Banking Committee is reportedly preparing to release a revised draft of the Market Structure Bill. Eleanor Terrett, Crypto America host and former Fox Business journalist, commented:

“SCOOPLET: I’m hearing the Senate Banking Committee is aiming as early as today to release its updated draft of market structure legislation, reflecting feedback from RFIs submitted before the August recess.”

What does the Market Structure Bill mean for traders?

The Market Structure Bill will provide the US digital asset space with regulatory clarity, driving crypto adoption and innovation. If passed, the bill would grant the US Commodity Futures Trading Commission (CFTC) greater oversight responsibilities.

Furthermore, the bill establishes a framework for lawmakers to categorize crypto as investment contracts/securities or as digital commodities. This framework would address the uncertainty about whether a crypto is a commodity or security, crucial for Trump’s ambitions to make the US the global leader in digital asset innovation and adoption.

Price Action & Technical Analysis

After falling 0.53% on Wednesday, September 3, XRP slid 1.79% on Thursday, September 4, closing at $2.7965. While tracking the broader crypto market, the token remains in sight of the psychological $3 level. Traders are watching the following technical levels:

• Support: $2.7 and $2.5.
• Resistance: $3.0, $3.3, and the all-time high at $3.66.

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

• Spot ETF headlines. Progress or delays in XRP-spot ETF reviews could trigger volatility.
• Institutional Adoption: Blue-chip firms’ interest in using XRP as a Treasury Reserve Asset could support prices.
• Regulatory milestones: Ripple’s application for a US-chartered bank license, legislative initiatives such as the Market Structure Bill, and updates from SWIFT could influence sentiment.

Catalysts & Scenarios

XRP’s outlook hinges on corporate, macroeconomic, and regulatory factors. Potential price scenarios include:

Bearish Scenario

• Legislative roadblocks stall the Market Structure Bill or delay crypto-friendly regulations.
• Blue-chip firms remain hesitant about adopting XRP as a treasury reserve asset.
• Ripple’s US-chartered bank license faces rejection or delays.
• SWIFT maintains dominance in global remittances, limiting Ripple’s market access.

Under these scenarios, XRP could drop toward $2.5.

Bullish Scenario

• SEC approves XRP-spot ETFs, opening mainstream investment channels.
• Corporates add XRP to treasuries, and more payment platforms integrate Ripple tech.
• Ripple secures a US-chartered bank license, and legislative progress on the Market Structure Bill fosters a favorable backdrop for crypto firms.
• SWIFT loses share of global remittances as Ripple’s network gains traction.

These factors could drive XRP above its $3.66 (Binance) record high.

Conclusion

Regulatory clarity and ETF approvals remain the price catalysts for XRP. Until then, headlines from Capitol Hill and the SEC will dictate near-term direction.

A green light on ETFs or progress on the Market Structure Bill could ignite a breakout toward record highs. However, delays risk dragging XRP back toward key support levels. For traders, the coming weeks may decide whether XRP becomes a mainstream investment story—or stumbles under the weight of regulatory uncertainty.

See where analysts expect XRP to head in the coming months as regulatory and economic risks evolve.