• XRP is holding steady around the $2.80 support level, signaling potential for a short-term bullish reversal.
• The delay in XRP ETF approvals has temporarily dampened investor excitement, though optimism for a rebound remains.
• Analysts note that renewed buying pressure could push XRP to retest the $2.90–$3.00 resistance range.

XRP is showing stability after facing resistance, with analysts predicting a potential rebound soon. The delayed ETF approval caused by the SEC shutdown has dampened investor enthusiasm. However, analysts believe that renewed buying interest could trigger a short-term recovery.

At press time, XRP is trading at $2.81, showing a modest 0.10% increase over the past 24 hours. The XRP holds a market capitalization of $168.76 billion with $7.09 billion in daily trading volume, showing stable trading even though the overall market is uncertain.

XRP ETF Delays Shock Crypto Market

Popular crypto analyst OpulenceX posted an insightful comment regarding the latest news pertaining to the much-awaited XRP ETF approvals. He said:

“October was meant to be ETF-tober, with around $10 billion expected to flow into XRP. But instead, Washington shut down the SEC right before key approval deadlines. You really can’t make this up.”

His remarks indicate the way regulatory barriers still hold up key market stimuli that potentially would have pushed XRP up this month.

XRP Holding Support Signals Potential Rally

At the same time, another analyst, BitGuru, reported that XRP is maintaining resilience following the rejection around the $3.00 resistance area. As per him, the token remains firm around the $2.80 support, which is potentially the point where the tide will turn.

BitGuru noted that if the purchasing pressure continues to develop around this level, XRP is likely to retest the $2.90–$3.00 level, marking the onset of the short-term bullish reversal.

On the whole, though present regulatory hurdles have cooled investor excitement for the time being, optimists are still hopeful. Most are convinced that when the picture comes into clearer focus on the ETF side, upsurges by XRP are well possible, even setting the table for an even bigger push come the holiday season.

Also Read | XRP Eyes $5 as SEC Approval Nears and $2.90 Rebound Approaches

XRP Shows Mixed Signals in Weekly Chart

The RSI is 52.96, reflecting neutral momentum with minimal bullish potential as it remains above 50. In the meantime, the MA Ribbon provides important support around $2.76, reflecting price stability despite the latest volatility. Should XRP maintain above this area, the buyers may take over around the $3.00 level.

MACD shows low bullish momentum, where the signal line is positioned at 0.2206 while the MACD line is marginally below at 0.1857. Histogram bars are still red but diminishing, suggesting fading selling pressure.

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