XRP recently dipped to the $2.70 range, marking its lowest level since early July, before bouncing back above $2.80. The decline was triggered by Ripple Labs’ scheduled release of 100 million XRP from escrow. While these token unlocks are routine, the move coincided with fragile market sentiment and limited new inflows, adding downward pressure on prices.
At present, XRP’s market capitalization has dropped to $16.6 billion, down nearly 25% from its yearly peak of $20.1 billion. Analysts note that the selling pressure is unlikely to ease immediately, with market conditions remaining cautious and short-term bearish.
Supply Pressure and Market Sentiment
Ripple unlocks 100 million XRP each month, with most tokens later re-locked. Still, the latest release came alongside large whale transactions. Data from Whale Alert reported nearly 500 million XRP (worth $1.38 billion) being transferred, though a majority was quickly locked back. The temporary oversupply rattled confidence and fueled selling pressure.
Institutional investors have also been trimming exposure. Since July, liquidations have totaled nearly $1.9 billion, while Ripple’s stablecoin RLUSD—despite its supply growing 16% over the past 30 days to $700 million—has shown weaker demand across active addresses and trading volumes.
October ETF Decision as a Catalyst
Looking forward, October could be pivotal for XRP. The U.S. SEC is set to deliver a decision on Ripple’s ETF application, with approval odds widely seen above 80%. Should approval be granted, it may trigger a significant rebound in both price and sentiment, marking a turning point for the asset.
For now, analysts believe the current decline represents a short-term correction driven by supply concerns and fragile investor psychology, rather than a fundamental shift in XRP’s long-term outlook.
Stability Through SAVVY MINING
For investors wary of volatility, the SAVVY MINING cloud mining platform provides a more stable way to grow XRP holdings. As a UK FCA-registered platform, it allows users to earn daily automated returns in XRP, BTC, ETH, DOGE, and other major cryptocurrencies without the need for mining hardware or technical expertise.
By using 100% renewable energy, SAVVY MINING not only ensures sustainable operations but also offers investors the ability to transform their XRP into a predictable daily income. With bank-grade security, transparent contracts, and 24/7 customer support, it provides a safe alternative for those who want exposure to XRP’s growth without relying solely on market swings.
How to Get Started with SAVVY MINING:
Step 1: Register an Account
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Step 3: Earn Daily Passive Income
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Conclusion
While XRP’s short-term correction reflects supply concerns and cautious sentiment, the upcoming ETF approval in October could serve as a major catalyst for recovery. In the meantime, investors can turn to SAVVY MINING as a way to generate passive XRP income daily, ensuring long-term growth regardless of short-term volatility.
Learn more at https://savvymining.com/.
The post XRP Rebounds from $2.70: October ETF Approval Could Be the Turning Point – SAVVY MINING Offers Stability Amid Volatility appeared first on Cryptonews.
