XRP Price Rally Accelerates on SBI Lending Initiative and ETF Anticipation

XRP surged to fresh highs as Japan’s SBI Holdings unveiled a new XRP institutional lending program, sparking renewed buying momentum and lifting trading volumes above 160 million tokens. The move fueled a 5.2% gain between October 1 at 03:00 and October 2 at 02:00, with XRP advancing from $2.84 to $2.97 and briefly testing $2.98 resistance. The initiative highlights Japan’s expanding role in digital asset adoption and underscores the growing institutional demand for XRP liquidity in cross-border payments.

During the rally, XRP traded within a $0.16 range, marking 5.6% volatility. The breakout began around 08:00 on October 1, when prices jumped from $2.86 to $2.92 on a surge of 164.5 million tokens—more than double the daily average. Buyers repeatedly defended $2.93 support through multiple retests, while resistance consolidated between $2.96 and $2.98. Late-session flows saw another burst of 4.8 million tokens, confirming strong institutional participation and reinforcing the bullish structure.

Technically, XRP now holds firm support at $2.93, with higher lows forming around $2.96–$2.97. This ascending setup suggests bullish continuation if buyers can secure a decisive close above $2.98. A confirmed breakout would likely pave the way for a test of the $3.00 psychological threshold, a level closely watched by traders and algorithms.

Beyond immediate price action, broader sentiment is shaped by key macro catalysts. Ripple CTO David Schwartz’s transition to an emeritus role adds intrigue to Ripple’s leadership direction, while the SEC’s October 18 decision window for seven pending spot ETF applications is looming as a defining event for XRP and the broader crypto market. With the CD20 index showing parallel rallies in other large-cap tokens, traders are focused on whether XRP can sustain momentum and build toward a confirmed breakout above $3.00.