XRP ETFs on Nasdaq see rally as SEC reforms drive inflows; XRPR at $24.33, XRPI at $17.55
XRP ETFs on Nasdaq are experiencing a surge, with XRPR trading at $24.33 and XRPI at $17.55 amid a wave of fresh capital that saw $93 million entering XRP funds just last week. As the SEC prepares to make decisions on 16 crypto ETFs in October, leading to historically strong fourth-quarter gains averaging 150%, both XRPR and XRPI are approaching breakout levels.
On the Bitcoin front, BTC-USD stabilized at $111,875 while Bitcoin ETFs posted $903 million outflows. BlackRock’s IBIT gained some traction with $174 million inflows, cushioning the blow from Fidelity’s losses. This shift came after a four-week inflow streak came to an end, signaling a split in institutional demand for BTC with the cryptocurrency defending the $110,000 support level.
Solana’s ecosystem activity waned, leading to a 20% dip in SOL-USD to $197. Key catalysts like the ETF decision now play a crucial role in shaping Solana’s price forecast.
Meanwhile, XRP-USD is stabilizing near $2.90 as momentum from Ripple ETFs, SEC clarity, and whale accumulation are anticipated to drive the price within the $5 to $7 range. This stability hinges on these factors as trading activity continues.
In the stock market arena, the QQQ ETF held steady at $486 as the Nasdaq-100 climbed to 22,631. Tech mega-caps like Nvidia at $4.3 trillion, Apple at $3.8 trillion, and Microsoft at $3.7 trillion now represent over 55% of QQQ’s weight. A potential breakout above $490-495 could lead to a test of $500, with support levels at $480-482. These moves come ahead of upcoming jobs data and earnings season, setting the stage for further market developments.
Nvidia’s stock price soared to $181.85 following a record $46 billion quarterly revenue and significant deals in the AI market. With 400% year-over-year data center growth, robust margins of 73%, and it’s leading position in AI, Nvidia stands to see potential further growth with investors now considering the possibility of a breakout above $200.
As various assets across different markets make significant moves, the coming months hold promise for investors and traders looking to capitalize on emerging opportunities. The dynamics of the crypto, stock, and AI markets are in flux, propelled by a range of factors from regulatory decisions to company performance, driving in diverse directions.
