XRP Price Holds $2.70 Support While Whale Accumulation Grows

• XRP price formed a spinning bottom pattern near a key support level after a 25% correction from its July peak, indicating a bullish trend reversal.
• The SEC is reviewing multiple XRP ETF filings, including spot and option income products, with key decisions due in October.

Ripple’s native cryptocurrency XRP has bounced back from $2.70, gaining more than 3% on the intraday chart. The whale entities have seized a buy-the-dip opportunity.

On-chain data indicates that large holders accumulated 340 million XRP during this period, signaling renewed confidence among whales despite broader market challenges. Analysts are expecting a strong XRP price upside moving ahead.

XRP Faces Major Test in September Before Spot ETF Approval

Seasonal market softness and ongoing regulatory uncertainty continue to weigh on XRP price movement. Spot XRP ETF applications from Grayscale, Bitwise, and other firms remain under review by U.S. regulators. Analysts remain divided: some warn of potential downside toward $1.00 after July’s $3.65 peak.

In contrast, some analysts highlight bullish long-term breakout patterns that could push XRP toward the $7–$8 range, as CNF reported.

The U.S. Securities and Exchange Commission (SEC) is set for a busy stretch with a series of rulings on XRP exchange-traded fund (ETF) applications. Key deadlines fall between October 18 and October 25, 2025. Analysts note that even one approval could boost XRP’s position in traditional markets, while multiple approvals in quick succession may trigger a stronger market reaction.

Earlier this week, Amplify Investments filed for the industry’s first XRP Option Income ETF, designed to combine XRP price exposure with weekly covered call strategies to generate consistent income. The fund plans to distribute earnings as ordinary income, calculate NAV daily, and utilize FLEX options for managing calls.

If approved, the ETF will list on the Cboe BZX Exchange. The filing comes as the SEC reviews more than 90 crypto ETF applications, including spot products for XRP, Solana, and Litecoin.

XRP Price Technical Chart Pattern

On the technical chart, the XRP price is forming a spinning bottom candlestick pattern on Monday, a signal that often indicates indecision in the market. The pattern occurs when prices fluctuate widely during the day but close near the opening level, reflecting active participation from both buyers and sellers without a clear winner.

This formation followed a 25% decline from the July peak of $3.65 and emerged near a key support level around the August 3 low, where XRP previously staged a strong rebound. Historically, such patterns after significant pullbacks suggest waning selling pressure and potential buying interest.

While a spinning bottom does not guarantee an immediate reversal, analysts view it as an early indication of a possible bullish shift in XRP price. Traders will look for confirmation through subsequent price action, particularly a bullish close above the high of the spinning bottom..