XRP is back under pressure this week, falling nearly 15% as traders brace for a series of upcoming spot ETF decisions and react to Ripple’s new partnership with Absa Bank a move that could expand the company’s global footprint across Africa.
Market Snapshot: XRP Faces a Sharp Weekly Pullback
At the time of writing, XRP trades at $2.42, down 3.6% in the past 24 hours and 15% over the last seven days. The token has now retraced 33% from its July all-time high of $3.65, moving in a tight range between $2.32 and $2.83 throughout the week.
According to data from CoinGlass, XRP’s 24-hour trading volume dropped 27% to $5.1 billion, while open interest fell 2.2% to $4.04 billion. Meanwhile, derivatives volume slid 36.5% to $6.56 billion, signaling a cooling in leveraged positions and a pause in speculative momentum across the board.
With traders adopting a wait-and-see approach, all eyes are now on the U.S. Securities and Exchange Commission’s upcoming ETF deadlines, which could dictate XRP’s next major move.
ETF Decisions Could Shape XRP’s Next Direction
Between October 18 and 25, the U.S. SEC faces clustered deadlines for several spot XRP ETF applications, including those from Grayscale, 21Shares, Bitwise, Canary, WisdomTree, and CoinShares. Meanwhile, Franklin Templeton’s application is under review until November 14.
Earlier this year, the Rex-Osprey XRPR ETF, launched on September 18, recorded $37.7 million in first-day trading volume on the Cboe exchange, reflecting strong investor appetite for regulated XRP exposure.
Analysts remain optimistic that at least one ETF approval could arrive before year-end, especially given Ripple’s regulatory clarity following its 2025 court victory against the SEC. However, approval timelines could face delays, with the partial U.S. government shutdown that began on October 1 slowing down the SEC’s operations.
Ripple Expands in Africa Through Absa Bank Partnership
In a separate milestone, Ripple announced a new partnership with Absa Bank on October 15, marking its first major custody client in Africa.
Absa, which manages over $119 billion in assets across 12 African countries, will integrate Ripple’s self-custodial platform to securely store digital assets and manage Ripple’s RLUSD stablecoin.
This partnership expands Ripple’s institutional network to five continents, strengthening access to tokenized assets and On-Demand Liquidity (ODL) solutions for cross-border payments. It also highlights Ripple’s growing focus on emerging markets, where blockchain-based financial infrastructure continues to gain traction.
Technical Analysis: Bulls Defend the $2.30 Zone
On the charts, XRP is showing short-term weakness after slipping below all major moving averages from the 10-day to the 200-day — confirming a bearish setup. The Bollinger Bands have widened, reflecting higher volatility, while XRP currently hovers near the lower band at $2.29, a key immediate support zone.
Momentum indicators paint a mixed picture:
- The MACD and momentum indicators continue to flash mild sell signals.
- The RSI sits at 33.9, signaling near-oversold conditions that could attract dip buyers.
- The Commodity Channel Index (CCI) suggests a potential rebound if trading volume increases.
If bulls can hold the $2.30–$2.40 range, XRP could rebound toward $2.75–$2.85, aligning with the 20-day moving average. A breakout above that could open the door to $3.00–$3.20, especially if ETF optimism strengthens.
Conversely, losing current support could extend the 30-day downtrend, potentially leading to a retest of $2.00–$2.10.
Outlook: ETF Hopes and Global Expansion Offer a Silver Lining
Despite short-term bearish signals, XRP’s long-term fundamentals remain strong. The combination of ETF optimism, Ripple’s African expansion, and its regulatory advantage could set the stage for renewed investor confidence once broader market sentiment stabilizes.
For now, the $2.30 level remains the line in the sand. If bulls can defend it, XRP may soon find the momentum it needs to turn the tide especially as ETF decisions and global partnerships start shaping the next phase of its story.
