XRP Price Prediction As Franklin Templeton Looks To Launch Its US XRP ETF This Month

The XRP price dropped over 1% in the past 24 hours to trade at $2.22 as of 4:35 a.m. EST on trading volume that surged 27% to $8.8 billion.

This comes as Franklin Templeton filed a revised S-1 that includes condensed 8(a) language for its XRP fund, according to Bloomberg analyst James Seyffart.

The change will pave the way for automatic registration once all requirements are met.

Such an update further suggests a coordinated push across the industry to take advantage of the current regulatory window as the US government shutdown persists.

The string of updated S-1s supports recent expectations from ETF expert Nate Geraci, who projected that a new set of spot XRP ETFs could go live within two weeks, targeting mid-November.

XRP Price Holds Key Support, Eyes Potential Relief Rally

After a significant rally in the middle of the year that propelled the XRP price above $3.50, the Ripple token has since entered a prolonged corrective phase, forming a falling channel pattern on the daily chart.

Currently, the Ripple token price trades near $2.23, maintaining support just above the $2.10–$2.00 zone while facing heavy resistance from both the 50-day and 200-day Simple Moving Averages (SMAs), located at $2.66 and $2.62, respectively.

This convergence of SMAs indicates indecision in the market, with sellers still holding control in the short term.

Meanwhile, the Relative Strength Index (RSI) currently stands at 35.25, hovering near the oversold threshold. This suggests that bearish momentum is beginning to weaken, and a potential rebound could occur if buyers regain momentum and push the RSI toward the 50-midline.

According to the daily XRP chart, price action remains confined within a descending wedge, often considered a bullish reversal structure if broken to the upside.

If XRP manages to hold above the $2.10–$2.00 support band, a short-term rebound could target the $2.60–$2.70 region, where the 50-day SMA and the 0.236 Fibonacci retracement level act as immediate resistance.

A breakout above that zone would likely trigger a rally toward $2.86 (0.382 Fib) and $3.07 (0.5 Fib), with extended targets near $3.28 and $3.57 if momentum strengthens.

Conversely, a daily close below $2.10 would invalidate the potential reversal setup and expose XRP to further downside pressure, with the next key support seen near $1.85.