XRP Price: Token Breaks Out of Downtrend on ETF Buzz and BBVA Partnership
TLDR
XRP breaks above $3.00 resistance with 5% gains, reaching $3.02 after three consecutive days of increases
Bloomberg analysts assign 95% odds for XRP ETF approval with SEC decision expected in October
Ripple expands partnership with BBVA bank in Spain to offer digital asset custody services
XRP futures open interest climbs 5% to $7.91 billion while CME contracts jump 74% in 30 days
Technical indicators show bullish momentum with RSI at 54.78 and MACD crossover confirming upward trend
XRP price reached $3.02 on Tuesday, marking a 5% increase and the third consecutive day of gains for the digital asset. The cryptocurrency successfully broke through the key $3.00 resistance level that had previously acted as a barrier.
The breakout comes after XRP had been trading within a multi-month symmetrical triangle pattern. The token had formed higher lows and lower highs, creating the triangular formation before pushing higher.
🚨#XRP just broke out from the triangle. $8 – $10 is closer than we think! pic.twitter.com/vmpz2Q6k7x
— JackTheRippler ©️ (@RippleXrpie) September 9, 2025
Market data shows XRP’s market capitalization approaching $180 billion at current prices. Trading volume has increased to $6.78 billion across major exchanges, indicating heightened market interest.
Bloomberg analysts have assigned 95% odds for an XRP exchange-traded fund approval in the United States. The SEC’s final decision on the ETF application is expected in late October.
Source: DefiLlama
REX-Osprey products combining ETF and ETN structures could potentially arrive earlier. These products would follow a model similar to Solana Staking, which does not require direct SEC approval.
Institutional interest in XRP has grown based on derivatives data. XRP futures aggregate open interest climbed 5% from the previous month, totaling 2.69 billion XRP worth $7.91 billion.
The number of outstanding XRP futures contracts at the Chicago Mercantile Exchange jumped 74% during the same 30-day period. This increase reached 386 million XRP, highlighting stronger participation from professional fund managers and market makers.
Technical Analysis Points to Further Gains
Current XRP monthly futures trade at a 7% premium over spot prices. This premium suggests leverage demand remains balanced, consistent with patterns from the past month.
The Relative Strength Index stands at 54.78, indicating neutral conditions with room for additional price movement. RSI values above 50 generally signal rising bullish momentum without reaching overbought territory.
The MACD indicator shows evidence of a bullish trend with a value of 0.01816 above the signal line of -0.02979. This represents a bullish crossover, with the histogram expanding into positive territory.
Immediate resistance levels for XRP lie between $3.30 and $3.50. The cryptocurrency had struggled to break through these levels in recent weeks.
Crypto analysts suggest the $8 to $10 range could become accessible if XRP maintains its current momentum. The all-time high of $3.84 may serve as a psychological resistance zone.
Ripple Strengthens Banking Partnerships
Ripple has expanded its partnership with BBVA, one of Spain’s largest banks. The collaboration will provide BBVA with Ripple’s digital asset custody technology for secure storage of cryptocurrencies including Bitcoin and Ether.
Ripple Custody 🤝 @BBVA 🇪🇸
We’re expanding our partnership with @BBVA, bringing our institutional-grade digital asset custody technology to Spain: https://t.co/28Mkejn1AH
BBVA is responding to growing customer demand for crypto assets, with Ripple providing a secure and…
— Ripple (@Ripple) September 9, 2025
Francisco Maroto, BBVA’s head of digital assets, stated the custody solution allows the bank to provide end-to-end services with institutional security standards. This partnership extends existing collaborations between Ripple and BBVA in Switzerland and Turkey.
Cassie Craddock from Ripple noted that major banks are embracing digital assets due to regulatory clarity from frameworks like the EU’s MiCA regulation. The partnership strengthens Ripple’s presence in the European market.
However, XRP has underperformed compared to the broader altcoin market. While the total altcoin market capitalization advanced 14% since August, XRP remained relatively flat during the same period.
Ripple’s stablecoin RLUSD has crossed the $700 million mark in assets. Nearly 90% of the supply was issued on the Ethereum network, creating limited direct demand for the XRP Ledger.
Data from RWA.xyz shows the XRP Ledger accounts for only 2% of outstanding Real World Assets. This trails smaller blockchains such as Avalanche, Stellar, and Aptos in tokenization adoption.
The XRP Ledger maintains a modest $100 million in total value locked, which may limit the sustainability of extended price rallies above current levels.
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Filed under: News - @ September 10, 2025 7:26 am