XRP is currently trading at $2.80, after falling 2% today and 6% over the last week. It has been one of the worst-performing top 10 cryptocurrencies in the last month, second only to Cardano. Despite favorable conditions in the broader crypto market – with Bitcoin and BNB setting new all-time highs – XRP has failed to keep pace.
The token has repeatedly struggled to stay above $3 and has not been able to reclaim that level since early October. Over the past month, XRP has traded in a narrowing range between $2.70 and $3.10, showing declining volatility and low momentum.
ETF Decisions Remain Unresolved
The lack of price movement might be related to the pending spot ETF applications for XRP. Six asset managers – including Grayscale, 21Shares, Bitwise, WisdomTree, Canary Capital, and CoinShares – have submitted filings, with decisions expected between October 18 and 25. However, the recent U.S. government shutdown has paused most SEC activity, making it less likely that the agency will issue approvals on schedule.
Because spot XRP ETFs require direct approval under the Securities Act of 1933, they cannot move forward during the shutdown. This has added uncertainty to the timeline and appears to be weighing on short-term sentiment.
Read also: No More 19b-4: Altcoin ETFs Enter Final Stage of Approval
Market Position Slips as BNB and Tether Overtake XRP
XRP has also dropped to fifth place in market capitalization after being surpassed by both Tether (USDT) and Binance Coin (BNB). Just weeks ago, XRP ranked third among all cryptocurrencies by market cap. The recent shift reflects both a decline in XRP price and relative strength in competing tokens.
Trading volumes have also cooled. Open interest in XRP futures remains above $1 billion, suggesting institutional activity is still present, but not accelerating. Technical indicators such as the Relative Strength Index (RSI) and MACD point to neutral-to-bearish conditions, with no clear bullish breakout patterns forming.
Ripple Continues to Expand Globally
Outside of price action, Ripple has announced a new partnership with Bahrain Fintech Bay to develop blockchain-based finance solutions across the Gulf region. The collaboration includes plans for educational programs, cross-border payments, and deployment of Ripple’s RLUSD stablecoin.
Ripple executives also highlighted new licensing agreements in the Middle East and Africa, along with the development of privacy tools for institutional users on the XRP Ledger. These developments are aimed at increasing adoption, particularly among banks and financial institutions. However, they have so far had limited effect on market performance.
Read also: RLUSD Stablecoin 4 Months After Launch Exceeds Expectations
Outlook Remains Linked to Regulatory Clarity
Analysts continue to point to the pending ETF applications and broader regulatory developments as the key factors likely to influence XRP’s price in the near term. Market expectations are mixed, with some traders watching the $2.70 level as key support, while others view a confirmed breakout above $3.30 as necessary for renewed upward momentum.
Macro trends such as anticipated interest rate cuts and ongoing ETF demand in the crypto sector could improve the longer-term outlook for XRP. However, with no clear catalyst currently in play, the price remains range-bound as the market awaits regulatory updates.
