XRP surges to 3 USD! SEC's change of stance + ETF frenzy may trigger a historical new high market.

As Nasdaq submitted a tokenization ETF application to the SEC, and the SEC's attitude towards encryption regulation has undergone a significant change, Ripple (XRP) has once again become the focus of the market. Driven by the ETF narrative and favourable information regarding regulation, the price of XRP has approached the $3 mark, and technical indicators show that if it breaks through the key resistance, it may challenge the historical high of $3.66.

Nasdaq tokenization ETF application ignites the market

On September 8, Nasdaq submitted an application to the SEC to allow trading of tokenized stocks and ETFs while retaining full shareholder rights.

XRP Beneficial Logic:

XRPL has fast settlement, low cost, and high scalability.

Suitable as underlying infrastructure for tokenization asset trading.

XRP, as the native Token of XRPL, may see an increase in demand as adoption rates rise.

Market Background: The Nasdaq recorded a daily trading volume of $456.76 billion. Once tokenization is implemented, it will unleash tremendous potential for on-chain asset trading.

SEC and CFTC's Attitude Warms Up

Hester Peirce, the head of the SEC cryptocurrency working group, publicly emphasized:

1. Promote the agenda for rule-making.

2. Coordinate encryption regulation with the CFTC

3. Discussion on Spot Cryptocurrency Trading and Custody Framework

4. Hold a financial policy roundtable meeting

This series of actions stands in stark contrast to the “anti-encryption” strategy of the Biden-Gensler era, and the market interprets it as a shift towards a more favourable regulatory environment.

XRP Spot ETF Becomes the Biggest Potential Catalyst

After the approval of BTC and ETH spot ETFs, the market's expectation for the XRP spot ETF has soared:

1. BlackRock has applied for the iShares XRP Trust.

2. ETFs can provide a compliant entry channel for institutional funds.

3. Long-term holding of “sticky funds” is expected to enhance price stability.

Price and Technical Analysis

(Source: Trading View)

On September 8, XRP closed at $2.9710, up 3.22% for the day, marking two consecutive days of increases and approaching the psychological barrier of $3.

Support levels: $2.70, $2.50

Resistance levels: $3.00, $3.335, historical high of $3.66

Short-term observation:

ETF approval progress

Ripple's application for a US chartered bank license

Progress of the “Market Structure Bill” Legislation

The dynamics of SWIFT in the cross-border payment market

Potential Scenario Simulation

Bullish Scenario

SEC approves XRP spot ETF

Blue-chip companies will include XRP in their treasury reserves.

Ripple has obtained a banking license in the United States.

SWIFT's market share has been replaced by Ripple technology.

Target Price: Breakthrough historical high of $3.66

Bearish Scenario

The “Market Structure Act” is delayed or obstructed.

Institution adoption progress is not as expected

The bank license application was rejected.

SWIFT maintains a monopoly on cross-border payments

Risk price: falling below $2.70, even testing $2.50

Conclusion

XRP is currently on the brink of a “perfect storm” with favourable information from regulation + ETF narrative + technical breakthroughs. If the SEC's new stance and the ETF craze continue, along with the implementation of legislation and institutional adoption, XRP is expected to reach new highs. However, any uncertainty in regulation or policy could quickly change market trends. The coming months will be a key moment for XRP investors to determine the outcome.