XRP surged to fresh highs after Japan’s SBI unveiled an institutional lending initiative, igniting volumes above 160M and lifting price through key resistance. Buyers defended $2.93 multiple times as flows consolidated, with the October 18 ETF decision window now framing the next breakout test toward $3.00.News BackgroundXRP climbed 5.2% over the 24-hour window from Oct. 1, 03:00 to Oct. 2, 02:00, advancing from $2.84 to $2.97. The move followed SBI’s launch of an XRP lending program for institutional payments, highlighting Japan’s push into large-scale adoption. The rally also comes as Ripple CTO David Schwartz transitions to an emeritus role and with seven spot ETF filings pending SEC decisions starting Oct. 18.Price Action SummaryThe token traded a $0.16 band (5.6% volatility) between $2.82 and $2.98. The breakout accelerated at 08:00 Oct. 1, as XRP ripped from $2.86 to $2.92 on 164.5M tokens — more than double the daily average. Subsequent consolidation held $2.93 support through multiple retests, while resistance firmed at $2.96–$2.98. In the final hour, XRP extended 0.28% from $2.96 to $2.97, hitting $2.98 before sellers capped the advance.Technical AnalysisSupport has shifted higher to $2.93 after repeated defenses, while resistance remains entrenched at $2.96–$2.98. The breakout was validated by volume spikes — including a 4.8M burst during the late-session rally — signaling institutional demand underpinning the move. The hour chart showed a textbook ascending structure, with higher lows at $2.96–$2.97 leading into the session peak. Bulls need a decisive close above $2.98 to confirm momentum toward the $3.00 psychological barrier.What Traders Are Watching?Whether XRP can sustain closes above $2.96–$2.98 to set up a $3.00 breakout.Impact of SBI’s lending program on Asian liquidity flows and whether buying persists into U.S. hours.Positioning shifts ahead of the Oct. 18 SEC deadline for seven spot ETF applications.Broader CD20 index confirmation, as peer tokens also rallied 4–5% with elevated volume.XRP surged to fresh highs after Japan’s SBI unveiled an institutional lending initiative, igniting volumes above 160M and lifting price through key resistance. Buyers defended $2.93 multiple times as flows consolidated, with the October 18 ETF decision window now framing the next breakout test toward $3.00.News BackgroundXRP climbed 5.2% over the 24-hour window from Oct. 1, 03:00 to Oct. 2, 02:00, advancing from $2.84 to $2.97. The move followed SBI’s launch of an XRP lending program for institutional payments, highlighting Japan’s push into large-scale adoption. The rally also comes as Ripple CTO David Schwartz transitions to an emeritus role and with seven spot ETF filings pending SEC decisions starting Oct. 18.Price Action SummaryThe token traded a $0.16 band (5.6% volatility) between $2.82 and $2.98. The breakout accelerated at 08:00 Oct. 1, as XRP ripped from $2.86 to $2.92 on 164.5M tokens — more than double the daily average. Subsequent consolidation held $2.93 support through multiple retests, while resistance firmed at $2.96–$2.98. In the final hour, XRP extended 0.28% from $2.96 to $2.97, hitting $2.98 before sellers capped the advance.Technical AnalysisSupport has shifted higher to $2.93 after repeated defenses, while resistance remains entrenched at $2.96–$2.98. The breakout was validated by volume spikes — including a 4.8M burst during the late-session rally — signaling institutional demand underpinning the move. The hour chart showed a textbook ascending structure, with higher lows at $2.96–$2.97 leading into the session peak. Bulls need a decisive close above $2.98 to confirm momentum toward the $3.00 psychological barrier.What Traders Are Watching?Whether XRP can sustain closes above $2.96–$2.98 to set up a $3.00 breakout.Impact of SBI’s lending program on Asian liquidity flows and whether buying persists into U.S. hours.Positioning shifts ahead of the Oct. 18 SEC deadline for seven spot ETF applications.Broader CD20 index confirmation, as peer tokens also rallied 4–5% with elevated volume.

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more