XRP News Today: Top 4 Triggers to Watch for XRP Price Recovery

XRP price has remained on a downward trend as whales and investors’ bullish sentiment weakened after Ripple executive chairman Chris Larsen started profit booking.

Despite a $5-$10 XRP price prediction by analysts, rebounds were limited and failed to build upside momentum. Technical chart and indicators turned weak as the price dropped twice below $3.

However, the latest XRP news thread indicates that the investors anticipate a recovery ahead.

XRP News: Top 4 Catalysts for Price Recovery

XRP price could still recover from the ongoing market uncertainty and profit booking by whales and investors. The following 4 factors could bring a recovery, setting the stage for a new ATH.

XRP ETF Approval

The U.S. Securities and Exchange Commission’s (SEC) extended review period for spot XRP exchange-traded fund (ETF) approval last week.

The SEC designated October 18 as the final date for a decision on the ETF application by Grayscale ETF.

The decision on Canary, CoinShares, 21Shares, Bitwise, and other issuers is due by October 22 or 23.

However, the agency could approve all ETF applications on the same date, which would trigger XRP price recovery.

Moreover, ETF expert Nate Geraci claimed that spot crypto ETF floodgates will likely open in the next two months.

All eyes are on XRP, Solana, and Litecoin ETFs, with a full regulatory framework in place for spot crypto ETFs.

US OCC’s Decision on National Bank License Application by Ripple

Ripple filed for a national bank charter license with the U.S. Office of the Comptroller of the Currency (OCC) in July.

The OCC is required to decide on the application within 180 days, unless a need for further extension.

Bill Morgan, a popular lawyer in the XRP community, expects a decision on Ripple’s national bank charter could come by October end.

He also anticipates the SEC’s decision on XRP ETFs could be made around the same time in October.

If granted, the Ripple USD (RLUSD) stablecoin would have both state and federal oversight, increasing institutions’ trust in the stablecoin. This becomes important after the passing of the GENIUS Act.

XRP Price Recovery Post Whale Flow Turning Positive

As The Coin Republic reported, whale flow for XRP turned into negative territory amid massive selloffs by whales after Chris Larsen offloaded XRP worth millions.

XRP price action could remain structurally weak until whale flows turn positive. Also, whales continued to sell amid market-wide profit-booking and uncertainty.

Notably, analysts such as Ali Martinez, Dark Defender, and ChartingGuy predicted XRP price to hit $10.

However, the bearish double top pattern formation in the daily timeframe caused a further drop in XRP price.

More than 470 million XRP were sold by whales in the past 10 days, Ali Martinez revealed on August 20.

Glassnode added that XRP is witnessing a strong distribution similar to the December 2024 rally, making whale accumulation critical for XRP price recovery.

US Fed Rate Cut in September

The anticipated Fed rate cut in September remains the most significant catalyst for the broader crypto market, with traders eyeing XRP price recovery.

The US Federal Reserve would rely on its preferred inflation gauge, PCE inflation data, to resume a Fed rate cut. As The Coin Republic reported earlier, traders turned cautious after the US PPI inflation jumped 0.9% in July, raising core PPI inflation to 3.7%.

At the time of writing, the CME FedWatch tool showed more than 85% probability of a 25 bps Fed rate cut in September. Meanwhile, President Donald Trump and his administration urge for larger rate cuts.

At the time of writing, XRP price was trading 4% lower at $2.88. The 24-hour low and high were $2.85 and $3.02, respectively. Trading volume climbed by 11% in the last 24 hours.