XRP Joins $3 Club Despite SEC ETF Delay, Targets $3.3
XRP climbed over 2% in 24 hours to trade above $3 after the SEC delayed decisions on multiple spot XRP ETF applications. The SEC extended the deadline for the 21Shares Core XRP Trust to October 19 and postponed rulings on filings from Canary Capital, CoinShares, Bitwise and Grayscale, allowing public feedback and regulatory review. Analysts anticipate final decisions on eight pending spot XRP ETF proposals, including Franklin Templeton, REX-Osprey and WisdomTree, by October 18. On the 4-hour chart, XRP holds key support at $2.90, with the next resistance at $3.39 and a recent high at $3.66. Technical indicators show weakening bearish momentum: the MACD is poised for a bullish crossover and the RSI at 43 remains well above oversold levels. A successful recovery could push XRP toward $3.3 and beyond, while renewed selling pressure risks retesting $2.72 support. Traders are watching these levels for short-term and medium-term opportunities.
Bullish
The positive price reaction—over 2% gain after the SEC’s spot XRP ETF delay—indicates strong buyer interest and resilience in XRP. Although the SEC extended ETF deadlines to October, the move allows more public input and reduces immediate uncertainty. On the 4-hour chart, XRP remains above $2.90 support and is poised to test $3.39 and the recent high of $3.66. Technical indicators signal growing momentum: the MACD is nearing a bullish crossover and the RSI sits comfortably above oversold territory. Historically, regulatory delays in crypto ETFs, such as with Bitcoin, have triggered buy-the-dip rallies. With final ETF decisions expected by mid-October, XRP could attract further inflows. Traders should monitor these levels for breakout confirmations and manage risk around key support to capitalize on near-term upside.