XRP: 4 Key Trigger Factors to Watch for XRP Price Recovery

XRP is still on a 下行 trend as the optimistic sentiment of whales and investors weakens after Ripple's CEO Chris Larsen starts to take profit. Although analysts predict the price of XRP to be between 5-10 dollars, the recovery momentum remains limited and fails to generate an upward trend. The technical chart and indicators weaken as the price falls below 3 dollars twice. However, the latest news chain about XRP shows that investors predict the price will recover in the near future. XRP News: 4 Factors Driving Price Recovery The price of XRP may still recover after the ongoing market instability and the take profit activities of whale investors and traders. The following 4 factors could lead to a recovery, setting the stage for a new ATH. Approve XRP ETF Last week, the U.S. Securities and Exchange Commission (SEC) extended the review period to approve the spot exchange-traded fund (ETF) XRP. The SEC has designated October 18 as the deadline to make a decision on Grayscale ETF's application for an ETF.

Decisions regarding Canary, CoinShares, 21Shares, Bitwise, and other issuing units will be made on October 22 or 23. However, the agency may approve all ETF applications on the same day, which will trigger a recovery in XRP prices. Moreover, ETF expert Nate Geraci stated that the wave of spot cryptocurrency ETFs could open up in the next two months. All attention is focused on XRP, Solana, and Litecoin ETFs, with a full regulatory framework for spot cryptocurrency ETFs. Decision of the OCC of the United States on Ripple's Application for a National Bank Charter Ripple has submitted an application for a national bank charter with the Office of the Comptroller of the Currency of the United States (OCC) in July. The OCC must decide on the application within 180 days, unless an extension is required. Bill Morgan, a prominent lawyer in the XRP community, hopes that a decision regarding the national banking charter of Ripple may be made by the end of October. He also predicts that the SEC's decision on the XRP ETF may be made around the same time in October. If approved, the stablecoin Ripple USD (RLUSD) will be monitored by both state and federal authorities, thereby enhancing the trust of institutions in this stablecoin. This becomes important after the GENIUS Act is passed. XRP Price Rebounds After Whale Flow Turns Positive According to The Coin Republic, the flow of money into XRP has shifted to a negative direction as whales have been dumping massive amounts after Chris Larsen sold millions of dollars worth of XRP. The price volatility of XRP may remain weak structurally until the whale money flow turns positive. Additionally, whales continue to sell amid market take profit and instability.

Notably, analysts like Ali Martinez, Dark Defender, and ChartingGuy have predicted that the price of XRP will reach 10 dollars. However, the bearish double top pattern formed on the daily time frame has caused the price of XRP to continue to fall. Ali Martinez revealed on August 20 that whales have sold over 470 million XRP in the past 10 days. Glassnode further stated that XRP is experiencing strong distribution similar to the price surge in December 2024, making accumulation by whales crucial for the recovery of XRP's price.

The Federal Reserve Cuts Interest Rates in September The Fed's expected interest rate cut in September remains the most important catalyst for the cryptocurrency market as a whole, with traders keeping an eye on the recovery of XRP prices. The U.S. Federal Reserve (Fed) will rely on its preferred inflation measure, PCE inflation data, to continue cutting interest rates. As The Coin Republic reported earlier, traders have become cautious after U.S. PPI inflation rose by 0.9% in July, raising core PPI inflation to 3.7%. At the time of writing, CME's FedWatch tool indicates that there is over an 85% chance the Fed will cut interest rates by 0.25 basis points in September. Meanwhile, President Donald Trump and his administration are pushing for a stronger interest rate cut. As of the time of writing, the price of XRP is trading down 4% at $2.88. The low and high in the last 24 hours are $2.85 and $3.02, respectively. The trading volume has increased by 11% in the past 24 hours.