The past week brought a broad shift in crypto market momentum. Bitcoin moved back above $85,000 before climbing above $87,000 after weaker-than-expected U.S. jobs data, while XRP and Shiba Inu entered October with several notable developments.
Ripple advanced its XRPL lending plans and reported continued growth in XRP Ledger activity, while SHIB closed September with its strongest monthly performance of 2026.
Bitcoin reclaims $87,000 as US jobs data changes rate-hike expectations
Bitcoin surged above $87,000 on Oct. 2 after the latest U.S. jobs report showed nonfarm payrolls rising by just 29,000, well below expectations of 84,000 to 90,000. The unemployment rate reached 4.2%.
The weak labor-market figures reduced expectations for another Federal Reserve rate hike this month. Bitcoin had already climbed above $85,000 on Sept. 30 after softer-than-expected inflation data pushed rate-hike odds lower.
Ripple moves closer to native XRPL lending
RippleX opened the LendingProtocolV1_1 amendment for validator voting on Sept. 30, bringing the XRP Ledger closer to launching native lending infrastructure.
The amendment introduces closed-ended lending vaults and cash-basis accounting. It must activate alongside the original LendingProtocol and SingleAssetVault amendments, with the proposal requiring more than 80% support from trusted validators for two weeks.
Shiba Inu records best month of 2026
Shiba Inu closed September with a 13.5% monthly gain, its strongest monthly performance of 2026, according to data cited by U.Today from CryptoRank.
SHIB started September near $0.00000507 and reached a monthly high close to $0.00000625. The token also recorded a daily golden cross on Oct. 2, the first such signal in almost two years, while U.Today reported that SHIB had reached 1,693,365 on-chain holders during September.
Market update
Bitcoin
Bitcoin moved sharply higher during the week. After trading below $85,000 earlier in the week, BTC surged above $85,000 on Sept. 30 following softer U.S. inflation data. The Personal Consumption Expenditures Price Index rose 3.4% year over year in August, below the 3.7% expected by analysts.
On Oct. 2, Bitcoin reclaimed $87,000 following the weak U.S. jobs report.
Altcoins
XRP remained under pressure at several points during the week, but the XRP Ledger recorded strong activity. XRPL processed more than 900 million in a 24-hour period on Oct. 1, followed by another 60% increase in a key growth metric on Oct. 2.
Ripple also unlocked 1 billion XRP at the start of October before subsequently locking 700 million XRP back into escrow. U.Today also reported that XRP Ledger was being considered for Brazil’s $4 trillion securities market and that Ripple President Monica Long discussed the future of tokenization on public blockchains during Korea Blockchain Week.
Market data
- Bitcoin: about $86,688 on Oct. 2.
- Bitcoin dominance: 58.74%.
- September SHIB return: +13.5%.
- Q3 stablecoin market cap: $300.9 billion as of Oct. 1.
Regulation news
SEC and CFTC move ahead with crypto rules after clarity act deadlock
The SEC and CFTC moved to advance crypto-market rules independently after the Senate’s Sept. 15 vote failed to move the Digital Asset Market Clarity Act forward.
U.Today reported that the SEC was advancing proposed Regulation Crypto Assets, while CFTC Chairman Michael Selig said the agency was using its existing authority to shape crypto market structure. Public hearings on the SEC proposal were scheduled to continue through Oct. 20.
SEC proposes new crypto custody framework
On Oct. 2, the SEC proposed a new framework for digital-asset custody, adding another regulatory development to a week that also saw the SEC and CFTC pursue separate rulemaking initiatives.
Opinions
What to expect in October
Bitcoin, Ethereum and XRP enter October after a strong third quarter, with ETF flows, Ethereum’s upcoming Glamsterdam testnet and shifting market liquidity among the key factors for crypto markets.
Here’s what happened in crypto in September and what to expect in October.
Important dates
Oct. 8
Evernorth’s XRP treasury is scheduled to begin trading on Nasdaq under the XRPN ticker.
Oct. 20
SEC public hearings on proposed Regulation Crypto Assets continue.
Oct. 27–28
October FOMC meeting and rate decision. The meeting is particularly relevant for crypto markets following the week’s weaker inflation and employment data.
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