XRP is trading near $2.5 after a sharp weekly decline as traders await decisions on exchange-traded funds and Ripple’s signs a new partnership with Absa Bank.
Summary
- The XRP price is down 15% weekly, after a 33% pullback from July ATH.
- SEC ETF decisions and Ripple’s Absa Bank deal are driving positive sentiment.
- The main support is at $2.30; Reclaiming $2.75 could lead to a recovery.
XRP was trading at $2.42 at the time of writing, down 3.6% over the past day and 15% over the past week. The token has recovered about 33% from its peak of $3.65 in July. Over the past week, the price has remained within a range of $2.32-$2.83 as traders brace for major catalysts.
24-hour trading volume fell 27% to $5.1 billion. According to CoinGlass factsOpen interest fell 2.2% to $4.04 billion and derivatives volume fell 36.5% to $6.56 billion, indicating declining leverage and a short-term lull in speculative momentum.
XRP ETF Deadlines Boost Sentiment
The coming days could determine the price direction of XRP (XRP). Between October 18 and 25, the US Securities and Exchange Commission faces clustered deadlines for several spot
Launched on September 18, the Rex-Osprey With Ripple’s clear regulatory status following its court victory in 2025, analysts predict there will be at least one approval by the end of the year.
However, the precise timeline is uncertain as the SEC’s workflow is slowed by a partial US government shutdown that began on October 1.
Ripple’s Expansion in Africa with Absa Bank
Announced on October 15, Ripple’s new partnership with Absa Bank represents the first major custody client in Africa. Absa, which oversees $119 billion in assets across 12 African countries, will use Ripple’s self-custody platform to securely store digital assets and Ripple’s RLUSD stablecoin.
The partnership expands Ripple’s network to five continents and improves institutional access to tokenized assets and on-demand liquidity.
Technical analysis of XRP prices
The technical structure of XRP indicates a cautious phase. The price has confirmed short-term bearish pressure by falling below all major moving averages (10-200 days). The Bollinger Bands have widened due to increased volatility, while XRP is trading near the lower band around $2.29, acting as immediate support.
Momentum indicators remain mixed. The MACD and momentum continue to send mild sell signals, and the relative strength index at 33.9 indicates near oversold conditions. However, the commodity channel index signals a potential recovery if buying volume returns.
If bulls defend $2.30-$2.40, XRP could retest resistance around $2.75-$2.85, which coincides with the 20-day SMA. A break above this range could pave the way to $3.00-$3.20, especially if ETF optimism increases. On the other hand, if current support is not maintained, the 30-day downtrend could be extended with a retest of $2.00-$2.10.
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