XRP's trading activity has increased as the coin holds above the $3 mark, fueled by news of an expected ETF approval in the US.
ETF Approval Fuels Interest
The recent rise in XRP's price is linked to growing discussions about an ETF tied to the coin. Bloomberg analysts have raised the likelihood of approval to over 90%, with some expecting a final decision by late October. There is also speculation about hybrid products similar to Solana's model that might appear even earlier without requiring direct approval from the SEC. Institutional interest is starting to show.
Adoption Issues Affect Long-Term Outlook
Despite the stronger price action, XRP has not kept pace with gains in the broader altcoin market. Since August, digital assets like Solana, Cardano, and Ethereum have advanced by double digits, while XRP has mostly traded sideways. Adoption of the XRP Ledger (XRPL) is also a concern, as a significant portion of the stablecoin RLUSD was issued on Ethereum.
Current Market Actions for XRP
As of writing, XRP was trading at $2.966, down 1.23% in the last 24 hours. Recent weeks have seen whales accumulating around $600 million worth of XRP, indicating confidence that an ETF would unlock new liquidity. However, the overall value locked in XRPL remains significantly lower than that of competitors like Avalanche and Stellar.
In the coming weeks, the key factors for XRP will remain news about ETF approval and real activity on the XRP Ledger, which will help determine its long-term prospects.
