XRPUSD Holds Near $1.50 Amid Q3 Rally and ETF Inflows
XRPUSD has been trading near $1.50, with a Q3 rally and significant inflows into US spot XRP ETFs. The exchange-held XRP supply has decreased from approximately 12.9 billion to 11 billion since April. In the third quarter, US spot XRP ETFs added around $307.9 million, with an additional $4.07 million inflow on October 1. According to TradingView, the price of XRPUSD is currently trading between 1.54 and 1.70. An hourly close above 1.54 may signal a move towards 1.70, but upside may be limited by profit-taking. Support levels are present at 1.48-1.50.
October tends to be a weak month for XRPUSD, averaging a -4.71% decline, which raises questions about the sustainability of Q3 gains. Seasonality suggests that November and December may be stronger months for the currency. Near-term catalysts include Ripple's Swell event, ETF inflows, and Federal Reserve policy decisions.
The market dominance of XRP is around 3.28%, with a circulating supply of 68.13 billion XRP and 31.845 billion held in escrow. A phased release of 1 billion XRP from escrow is scheduled. Evernorth has listed a regulated vehicle offering XRPUSD spot CFD exposure, with investors including Ripple, Arrington, SBI, Pantera, Kraken, and GSR.