Ripple Could Be Struggling Around $3.0000
Ripple (XRP) is trading flat this week at $2.8420, lagging behind the broader crypto market where Bitcoin (BTC) is up 1.7% to $112,860. The token set a new all-time high at $3.6636 on 18 July and has since been consolidating around the $3.0000 support, forming a narrowing triangle pattern. Market participants expect an upside breakout once a spot XRP-ETF is approved by the SEC, anticipated in mid-October. A potential U.S. government shutdown on October 1 could temper sentiment, though the impact may be limited. XRP fell 21% during the 2018 shutdown, but investors today appear less concerned about such risks.
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