XRP Investors Ask: Spot ETF Launched, But Why Is Price Still Below $3?

XRP investors are asking a blunt question: why is the token still under $3 even after the launch of its first U.S. spot ETF?

This week the XRPR ETF debuted with $37.7 million in day-one trading, the strongest ETF launch of 2025. A newly launched Dogecoin ETF recorded $17 million. Combined, over $54 million traded in the first session.

Yet XRP is stuck around $2.98, with bulls unable to clear the $3 mark.

Institutional Inflows Could Shift the Picture

Analysts say early inflows are modest, but institutional demand could grow in Q4. Zach Rector said that tens of billions of dollars could eventually flow into XRP ETFs.

Q4 about to be massive! ETFs, DATs and Institutional Adoption all pushing XRP up to finish the year!

— Zach Rector (@ZachRector7) September 20, 2025

That puts October on watch. Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, Franklin Templeton, and CoinShares all have spot XRP ETF applications in the pipeline. Final deadlines arrive next month.

XRP Expands Into DeFi

While ETF demand builds, XRP is also pushing deeper into DeFi.

Enosys announced the first XRP-backed stablecoin via its upcoming Enosys Loans protocol on Flare, a fork of Liquity V2. That lets XRP holders mint stablecoins without selling their tokens.

XRP Price Action and Technical Outlook

XRP is currently trading at $2.98, with support near $2.95 and resistance at $3.12. Analysts have said that a clear breakout above $3.12 could push prices toward $3.30 and higher.

Source: Tradingview

Some experts are eyeing the possibility of an XRP ETF approval in October, which could potentially drive the price well above $20.

Lessons from Bitcoin Spot ETFs

History shows what can happen when Wall Street gains access to a spot ETF.

In January 2024, Bitcoin spot ETFs were approved when BTC was around $45,000. Initially, Bitcoin dipped 12 percent in a classic “sell-the-news” reaction. However, within seven weeks, BTC surged to $73,700, a 64% rally powered by billions in ETF inflows.

The following potential scenario could come into play if history repeats:

• Approval Week October 2025: Dip to around $3.50 from profit-taking
• One Month Later November 2025: Recovery into $5 to $6 range
• Two Months Later December 2025: Breakout toward $8 to $10

Combined with the first U.S. altcoin ETFs, RLUSD integration, and Ripple’s ongoing banking license application, XRP has a stacked set of catalysts for mainstream adoption and price growth.

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