What to Know:
- Ripple CEO hints at U.S. reserves and more XRP ETF launches this year.
- CNBC sparks speculation of Ripple rivaling global payments giant SWIFT.
- XRP slips 0.63% as whales sell, but long-term outlook stays bullish.
XRP is back in the headlines after a mix of bold announcements, high-profile rumors, and market turbulence. From talk of an ETF to whispers about replacing SWIFT, the global payments network, XRP is in the center of attention again. But the price action tells a slightly different story. Let’s break it down.
Brad Garlinghouse Sets the Stage
Ripple CEO Brad Garlinghouse recently declared that XRP is “poised to be part of the U.S. government’s digital asset stockpile.” He also hinted that an XRP-based ETF could launch before the end of this year. For everyday investors, that means Wall Street funds could soon allow exposure to XRP without directly buying and storing the token.
Such news should have been explosive for the market. Yet, in the short term, excitement cooled because the much-awaited ETF launch had been delayed. Traders who expected an immediate boost ended up selling the news.
CNBC’s SWIFT Shock
On CNBC, a guest suggested Ripple is “taking over SWIFT.” SWIFT is the backbone of international banking, handling trillions of dollars in global money transfers. The idea that Ripple could replace or compete directly with such an institution fired up XRP’s fan base. Online chatter quickly revived the bold “XRP to $1000” predictions, even though such numbers remain highly speculative.
While Ripple hasn’t confirmed such a takeover, the mere possibility shows how closely the company is being linked to traditional financial plumbing.
XRP Market Performance
Despite the big headlines, XRP fell 0.63% in the last 24 hours to trade at $3.01. In contrast, the broader crypto market actually gained 0.58%.
The REX-Osprey XRP ETF was supposed to launch in mid-September but faced last-minute setbacks. Though it has regulatory approval and is structured to hold both XRP and U.S. Treasuries, the delay frustrated traders. The token has lost about 6% since its recent $3.19 peak. Bloomberg analysts expect the ETF to finally launch around September 18, which could attract hundreds of millions in institutional money once live.
Large holders have been moving XRP around. Data shows that wallets holding more than 10 million XRP sold about 40 million tokens (worth $120 million) in just 24 hours. While this raised fears of a sell-off, retail buyers absorbed much of the supply. Exchange reserves only went up slightly, which means not all tokens were dumped on the open market. On the charts, XRP failed to break through $3.07 resistance. Momentum indicators show weakness, and traders are booking profits after a 39% rally earlier this month. Support now sits at $2.94 and $2.81. A dip below $2.94 could spark faster selling by automated trading systems.
Bigger Picture of XRP’s Future
XRP is still up more than 400% in the last year, even after the pullback. Many people think that the current drop is just a healthy break and not the start of a big downtrend. If the ETF launch goes well and institutional buyers get involved, the story could quickly turn bullish again.
Ripple is also trying to show that not all stablecoins and digital assets are the same by pointing out design flaws in other tokens and saying that XRP is a good choice for the long term. The project’s vision is still ambitious, even though there is more speculation about global banking ties.
What’s Next for Ripple’s XRP?
The key thing to watch is whether XRP can hold the $3 support level in the coming days. If it does, the token could stabilize until the ETF launch. If not, traders may see another short-term drop.
Longer term, the ETF, ongoing U.S. regulatory clarity, and Ripple’s role in payments will decide whether XRP truly has the power to be the “next Bitcoin,” as some headlines suggest.
Also Read: Whale Bets Big on Hype: $2.6M Buy Ahead of Fed Interest Rate Decision
