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XRP Jumps 5% as SBI Lending Program and ETF Countdown Fuel Rally
Traders are closely monitoring the potential for a breakout above $3.00, with attention on the upcoming SEC decision on ETF applications.
Updated Oct 2, 2025, 4:18 a.m. Published Oct 2, 2025, 4:18 a.m.
What to know:
- XRP surged past key resistance levels following the launch of SBI's institutional lending initiative.
- The token's price action saw a 5.2% increase, with significant trading volumes exceeding 160 million tokens.
- Traders are closely monitoring the potential for a breakout above $3.00, with attention on the upcoming SEC decision on ETF applications.
XRP surged to fresh highs after Japan’s SBI unveiled an institutional lending initiative, igniting volumes above 160M and lifting price through key resistance. Buyers defended $2.93 multiple times as flows consolidated, with the October 18 ETF decision window now framing the next breakout test toward $3.00.
News Background
XRP climbed 5.2% over the 24-hour window from Oct. 1, 03:00 to Oct. 2, 02:00, advancing from $2.84 to $2.97. The move followed SBI’s launch of an XRP lending program for institutional payments, highlighting Japan’s push into large-scale adoption. The rally also comes as Ripple CTO David Schwartz transitions to an emeritus role and with seven spot ETF filings pending SEC decisions starting Oct. 18.
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Price Action Summary
The token traded a $0.16 band (5.6% volatility) between $2.82 and $2.98. The breakout accelerated at 08:00 Oct. 1, as XRP ripped from $2.86 to $2.92 on 164.5M tokens — more than double the daily average. Subsequent consolidation held $2.93 support through multiple retests, while resistance firmed at $2.96–$2.98. In the final hour, XRP extended 0.28% from $2.96 to $2.97, hitting $2.98 before sellers capped the advance.
Technical Analysis
Support has shifted higher to $2.93 after repeated defenses, while resistance remains entrenched at $2.96–$2.98. The breakout was validated by volume spikes — including a 4.8M burst during the late-session rally — signaling institutional demand underpinning the move. The hour chart showed a textbook ascending structure, with higher lows at $2.96–$2.97 leading into the session peak. Bulls need a decisive close above $2.98 to confirm momentum toward the $3.00 psychological barrier.
What Traders Are Watching?
- Whether XRP can sustain closes above $2.96–$2.98 to set up a $3.00 breakout.
- Impact of SBI’s lending program on Asian liquidity flows and whether buying persists into U.S. hours.
- Positioning shifts ahead of the Oct. 18 SEC deadline for seven spot ETF applications.
- Broader CD20 index confirmation, as peer tokens also rallied 4–5% with elevated volume.
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What to know:
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