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XRP has shed 3.92% in the last seven days as broader market volatility bears down on altcoins in the cryptocurrency space. XRP has slipped from below the crucial $3 support level as it struggles to find stability. Despite these challenges, the asset remains within reach of hitting a milestone in this third quarter.
XRP maintains quarterly growth despite market volatility
According to Cryptorank data, XRP has registered 30.1% positive growth in this quarter. The asset looks likely to continue its upward momentum once the broader financial market overcomes the uncertainty sparked by the anticipated U.S. rate cuts and trade tariffs.
The coin still has all of September to recover and possibly post new price highs.
A major catalyst that could fuel XRP’s rebound is the anticipation of spot exchange-traded fund (ETF) approval by the Securities and Exchange Commission (SEC).
With predictions high on the chances of an XRP ETF before the end of the year, the ecosystem might witness an uptick in activity as the signs become clearer. This could include increased accumulation by investors and market participants.
Such a development could drive the performance outlook for the coin and support it to post a new milestone before the end of September.
As of press time, the XRP price was changing hands for $2.89, representing a 2.11% decline in the last 24 hours. Trading volume has also declined by 11.06% to $6.84 billion within the same time frame.
Institutional adoption and partnerships strengthen XRP ecosystem
Meanwhile, XRP is also gaining traction among institutional players and forging new partnerships.
For instance, Gemini exchange recently released a limited-edition XRP credit card. The card provides an incentive to users who make regular purchases by rewarding them with 4% cashback in XRP.
This has attracted more users to Gemini’s app, pushing it above Coinbase in the U.S. app store. Clearly, the XRP factor has given the exchange a competitive edge, based on adoption trends.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team