Ripple Labs XRP/USD is holding near $2.30, finding support at $2.28 and stalling below $2.35. The token remains in consolidation after a breakout from a long-term descending triangle. The price action is driven by regulatory catalysts like the SEC's review of XRP ETF, amid institutional speculation leading to creation of $121 million XRP based treasury.
The U.S. SEC has officially opened a review of the proposed spot XRP ETF by WisdomTree. The filing kicks off a 240-day evaluation period and invites public comment on investor protection, marking the furthest any spot XRP ETF has progressed. While a final decision is still months away, the review is being read as a signal that institutional interest is reaching critical mass.
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Stuart Alderoty, Chief Legal Officer of Ripple, submitted a letter to the US SEC arguing that XRP should not be classified as a security. He proposed a “maturity” test to determine when digital tokens should exit securities law, citing decentralization, utility, and lack of issuer control. Ripple called for a safe harbor to shield developers in the early stages of token development.
The SEC’s engagement is widely seen as a milestone toward XRP’s inclusion in regulated financial products.
VivoPower International PLC VVPR announced a $121 million private share placement to support an XRP-focused treasury strategy. The round, led by Saudi Prince Abdulaziz bin Turki, added former SBI Ripple Asia executive, Adam Traidman, as an advisor. VivoPower shares surged over 25% following the announcement.
Other corporations are quietly exploring XRP allocations. While most remain undisclosed, more than $120 million has reportedly been raised this month to fund enterprise-level XRP integrations in cross-border payments.
Open interest in XRP derivatives has climbed to $4.87 billion in the past 24 hours, driven by the launch of CME Group Inc's CME cash-settled XRP futures. The regulated CME CF XRP-Dollar Reference Rate has attracted directional traders and corporates’ hedging exposure.
XRP is trading above its 50-day moving average, with resistance in the $2.35–$2.40 range. A clean break could open a path to $3.40, while a drop below $2.30 would expose a downside toward $2.20. Volume has lightened, indicating many traders are staying on the sidelines while waiting for regulatory clarity.
On-chain data shows mild whale accumulation over the past 48 hours, while smaller wallets have reduced exposure amid broader risk-off flows. The social sentiment is split: long-term holders are tracking ETF developments, while short-term traders lean into volatility.
A flattening U.S. The Treasury yield curve and a stronger dollar have weighed on crypto markets, including XRP. If the ETF process gains traction, XRP could begin to decouple from broader trends and respond to its own adoption and regulatory signals.
While the SEC’s decision may not arrive until early 2026, sentiment could shift faster. Strong institutional feedback during the public comment period may accelerate progress, and weak or negative responses could delay it.
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