XRP Gains 3% as ETF Decisions Loom, Price Nears $2.86
XRP is showing resilience, trading near $2.86 with a 3% daily gain on Sept. 29. It has tested the $2.70 support level five times since August without breaking lower. The cryptocurrency rebounded after dipping to this level on Sept. 26, adding approximately $10 billion in market capitalization and experiencing a 26% spike in trading volume over 24 hours.
ETF Decisions Loom in October
- The U.S. SEC will soon decide on several spot XRP ETF applications, starting with Grayscale's proposal on October 18.
- Other applications include those from 21Shares, Bitwise, Canary Capital, and WisdomTree.
- An approval would significantly advance institutional adoption of XRP.
- Large XRP holders are aggressively accumulating tokens amid these developments.
XRP Price Outlook
- XRP is just below the Bollinger Bands’ mid-line (20-day SMA) around $2.95.
- A close above $2.95 could lead to $3.15 or $3.30 if buying accelerates.
- The RSI is neutral at 47; a push above could strengthen bullish momentum, while a dip under 40 may signal selling pressure.
- A sustained weekly close above $2.70 is needed for a reversal; otherwise, a pullback toward $2.40 is possible.
Snorter Bot (SNORT) Presale
- Snorter Bot, a Telegram-based crypto trading assistant, is gaining attention.
- Aimed at simplifying trading, it allows users to discover, snipe, and trade coins directly in Telegram.
- The bot targets the Solana network initially, with plans to expand to Ethereum and BNB Chain.
- SNORT tokens grant access to the bot’s features, with a total supply capped at 500 million.
Presale Snapshot
- Token Price: $0.1011
- Funds Raised: $4.1 million
- Token Symbol: SNORT
- Network: Solana