ETF Catalyst, SBI Lending Program Drive 3% XRP Price Jump

XRP Rises Above $3 as SBI Lending Expansion and ETF Speculation Drive Institutional Activity

Seven XRP ETF filings await SEC decisions, with the first rulings expected by Oct. 18.

XRP climbed above the $3.00 mark on Thursday as institutional desks ramped up buying amid heavy trading volumes. The move comes as Japan’s SBI Holdings expands its institutional XRP lending program and U.S. regulators approach a critical decision on multiple ETF applications.

After establishing a short-term floor near $2.99, XRP faced strong resistance at $3.10, where turnover concentrated as traders booked profits following the latest surge.

Background and Market Drivers

Between Oct. 2 (04:00 UTC) and Oct. 3 (03:00 UTC), XRP advanced 3%, from $2.98 to $3.03, extending its weeklong recovery. SBI’s lending initiative fueled renewed demand from Asia-based institutions, further highlighting Japan’s accelerating crypto integration.

Adding to market attention, Ripple CTO David Schwartz announced his departure after 13 years, marking a leadership transition ahead of potential ETF approval milestones.

Meanwhile, seven XRP ETF applications remain under SEC review, with the first outcomes due Oct. 18. Prediction markets are now pricing approval odds at over 99%, reflecting near-unanimous expectations of a green light.

Price Action Overview

• Range: XRP moved within a $2.95–$3.10 band — a 4.9% spread.
• Volume Surge: At 16:00 UTC, price spiked from $3.00 to $3.06 on 212.6M XRP traded, more than twice the daily average.
• Resistance: Sellers concentrated at $3.10, where $129M in turnover capped further gains.
• Consolidation: The token held between $3.00–$3.05, signaling accumulation above the key psychological threshold.
• End-of-Session Flow: XRP eased from $3.03 to $3.02, with a 2.35M volume burst at 03:55 UTC, suggesting institutional portfolio rebalancing.

Technical Picture

Support remains firm near $2.99–$3.00, with repeated defenses confirming a strong base. Resistance is defined at $3.10, aligning with previous high-volume zones.

The structure points to ongoing accumulation, with bullish continuation contingent on a decisive close above $3.10 — a move that could open the next upside target near $3.20. Elevated volume across major exchanges underscores institutional engagement rather than retail-driven speculation.

What Traders Are Monitoring

• Sustained closes above $3.00 and potential breakout beyond $3.10.
• Institutional positioning shifts ahead of the Oct. 18 ETF decision window.
• SBI’s lending flows and their impact on Asian liquidity trends.
• Broader altcoin rotations, particularly within the CD20 index, as XRP leads sector momentum.