XRP's value decreases despite the successful debut of the REX-Osprey Ethereum Trust ETF, boasting a initial trading volume of $37 million.
In a recent development, the Chicago Mercantile Exchange (CME) introduced a new product that includes Solana and XRP. This innovative offering boasts a hybrid structure, combining direct spot holdings with up to 40% in foreign Exchange-Traded Products (ETPs), Treasuries, and hedges.
The price of XRP has been holding steady just above the 20-day moving average at $2.95, a sign of stability amidst the compressing volatility. This positioning, however, warrants caution as the stock market today remains volatile.
If XRP manages to hold above the $3.00 mark, a potential push through $3.18 could pave the way towards $3.30 and even a retest of the $3.65 high. Conversely, a close below $2.95 could put the market at risk of declining to $2.85 and potentially the 100-day average, which hovers around $2.80.
XRP is currently trading within a tight range, with the lower Bollinger Band at $2.71 and the upper band at $3.18. This tight trading range suggests a market that is uncertain about its direction.
Short- to mid-term Exponential Moving Averages (EMAs) support the price around $2.95-$3.00, reinforcing this level as a key floor. The majority of momentum indicators for XRP are neutral, with the Moving Average Convergence Divergence (MACD) showing a slight bullish crossover and the Relative Strength Index (RSI) close to 54.
This hybrid structure channels demand through custodians rather than visible exchange activity, making its impact less immediate compared to a traditional spot Exchange-Traded Fund (ETF) under the 1933 Act.
The launch of the REX-Osprey XRP ETF, first traded on the US stock exchange on September 18, 2021, was a strategic collaboration between REX Shares and Osprey Funds. The launch of this ETF saw the highest first-day trading volume of any 2025 ETF launch. The trading volume of the new ETF was five times higher than that of XRP futures ETFs at launch.
The approval of an ETF for Ripple in October could potentially impact the price of XRP. As the market continues to watch these developments, investors and traders alike are keeping a close eye on XRP's price movements.
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