XRP (CRYPTO: XRP) rose 2% to around $2.51 on Friday after regulatory progress on its pending spot ETF fueled fresh market optimism.
ETF Optimism Triggers Fresh Buying
The rally followed an update from Canary Capital, which amended its S-1 filing for the proposed XRP spot ETF by removing the "delaying amendment."
According to Cointelegraph, the procedural change allows the registration to become auto-effective, clearing the path for launch on Nov. 13.
Traders interpreted the move as a signal of imminent approval, sparking renewed speculative positioning after weeks of muted price action.
Market participants view the ETF as a gateway for institutional inflows that could strengthen liquidity in XRP markets.
On-Chain Data Shows Early Accumulation
XRP Netflows (Source: Coinglass)
According to Coinglass data, XRP saw $3.96 million in positive net inflows on Oct. 31 — the first major net buying session in over a week.
While small compared with July's $200 million spikes, the shift reflects returning spot accumulation ahead of the ETF window.
Historically, such green inflow bars have preceded short-term rallies, particularly when paired with a regulatory catalyst like the current ETF timeline.
Chart Structure Signals Breakout Potential
XRP Price Analysis For October 31st, 2025 (Source: TradingView)
Technically, XRP is trading around $2.51, holding above the Fibonacci 0.382 level at $2.43 while testing the 20-day EMA near $2.54.
XRP price remains in a descending triangle, compressing between the 50-day EMA at $2.66 and rising base support near $2.30.
A decisive break above $2.72, which aligns with the 0.5 retracement, could open upside toward $3.25 where the 0.786 level and upper trendline converge.
If momentum fades, a drop below $2.43 may retest support at $2.16 or the broader demand zone near $1.76.
The RSI has rebounded to 46.3, rising from oversold territory earlier in the week and suggesting easing selling pressure.
Outlook: Bulls Eye $3 Resistance Zone
XRP jumped 1.5% as renewed ETF optimism lifted sentiment across major crypto assets.
Bulls aim for the $3.00–$3.20 resistance zone ahead of the ETF debut, while bears will defend $2.43 to keep the triangle intact.
Bitcoin (CRYPTO: BTC) gained 2% to $110,400, Ethereum (CRYPTO: ETH) rose 1.6% to $3,845, and Solana (CRYPTO: SOL) climbed 0.21% to $189.
The collective rebound shows improving risk appetite and renewed accumulation across large-cap tokens.
If XRP breaks above $2.70 while ETF flows expand, it could lead the next market-wide rally above $3 into mid-November.
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