XRP Price Climbs 2.1% as Institutional Demand and ETF Hopes Drive Momentum

XRP posted a 2.1% gain over the 24-hour session from September 28 at 21:00 to September 29 at 20:00, advancing from $2.84 to $2.90. The token moved within a $0.10 corridor, equivalent to 3.47% of the opening price, reflecting heightened market activity and institutional participation. Trading volume surged significantly during key rally phases, particularly at 02:00 and 07:00 GMT on September 29, when transactions exceeded 97 million XRP compared to the daily average of 57.4 million units. The session closed near $2.9045 after breaching the $2.90 psychological barrier, supported by a late-hour push of 4.8 million units in trading volume.

Whale activity has been a critical driver, with large institutional wallets holding between 10 million and 100 million XRP accumulating over 120 million tokens in just 72 hours. This wave of accumulation underscores renewed investor confidence ahead of multiple pending XRP spot ETF applications with the U.S. Securities and Exchange Commission. Grayscale’s submission on October 18 is the first of seven filings under review, with decisions extending through mid-November. Analysts suggest approvals could accelerate institutional adoption, positioning XRP as a key digital asset within corporate portfolios.

From a technical perspective, resistance remains concentrated between $2.92 and $2.93, where repeated selling pressure has capped price advances. A breakout above $2.93 on higher volume would validate bullish continuation toward the $3.00 level. On the downside, support has consolidated in the $2.85–$2.86 range, repeatedly holding firm during retracements. The reclaiming of $2.90 has now become a short-term pivot, and traders are closely monitoring whether this level flips into lasting support.

Market participants are watching three key catalysts: sustained closes above $2.90, whale accumulation trends, and the SEC’s ETF approval window. Broader macroeconomic conditions, including U.S. Treasury yield volatility and Federal Reserve policy signals, are also influencing investor sentiment. Together, these factors highlight XRP’s potential for continued volatility and upside momentum as regulatory and institutional developments converge.