Key Takeaways:
-
The XRP holds above a critical level in September, which increased hoping for a potential recovery in October.
-
Breaking above $ 2.81 resistance is key, with technicalprojects about a 30% rally up to $ 3.62.
XRP (XRP) exchanged monthly open around $ 2.77 after falling 14% over the past two weeks. Holding this level hopes that a recovery may be on cards entering October.
XRP prices should be handled above $ 2.75
The XRP is faced with a critical test near Sept. 1 open around $ 2.75, according to analysts.
This level corresponds to the lower border of a symmetrical triangle, as shown in the sun -day chart below. Holding above the trend increases the chances of a break above the downward run of the chart of $ 2.86 (the 100-day simple transfer of average (SMA)). This transition may result in reaching out to Bullish target of the triangle to $ 3.62
The Glassnode distribution heatmap shows that a large demand cluster seated between $ 2.75, of which nearly 1.58 billion XRP was obtained, reinforced the importance of this level.
However, there is a supply wall sitting around $ 2.81 (embraced by 100-day SMA), which could hinder any recovery efforts in the short term.
Related: Will the price of XRP be crashed after falling below $ 3?
Conversely, a drop below $ 2.75 can be able to tap another Sell-off towards $ 2.00the target bearish of the symmetrical triangle.
“The $ XRP is in a solid integration -still together,” Says Analyst Hardy in an X post on Sunday, added that as long as the price holds above the $ 2.72- $ 2.75 range, the “reversed potential that remains playing.”
Taught by fellow analyst XForceglobal is that the XRP is more compiled around $ 2.75, the breakout is stronger, adding that Targets of $ 20-30 remain In play.
Number Cointelegraph reportedXRP may drop to $ 2.50 before a price reversing, based on the Fibonacci extension review.
October is usually a bad month for XRP
Unfortunately for Bulls, XRP tends to fight in October. Since 2013, the price has closed in red for seven over the past twelve months, with an average return slipping about –4.58%.
However, November is the best month, making the season between October and December the best quarter for XRP price rallies. This is the only three -month period with average acquisitions of 51%, according to data from Cryptorank.
Looking at the past years, XRP rallies about 240% in Q4/2024 and 20% in Q4/2023. The rally was more exponential in 2017 with 1,064% acquired between October 1 and December 1st.
Even in the bear cycles, such as 2018’s -39.1% and 2022’s -29.2% losses are outliers. But in any case, the last quarter of the year continues to deliver significant motions.
If history is to go through, XRP price action can be fully reversed in Q4/2025, and that recovery may begin in mid -October.
XRP ETF can spark “uptober”
ETF of October The spotlight can add tails to the XRP rally, with SEC deadlines emerging in the middle of the month.
Franklin Templeton’s XRP ETF decision was pushed on November 14th, while Rex/Osprey’s XRPR Dedebut on September 18 with nearly $ 38 million In the first day of the day.
Grayscale’s decision is expected on October 18, with major deadlines for other applications falling between October 19 and October 25th.
Estreamline SEC standards and the clarity of the post-ripple demand Pushed odds of approval to 100% On December 31, Unlocking a possible $ 4- $ 8 billion in the first year flowingAccording to the analysts.
However, market participants also warned that this likely event could be partially priced, to raise the risk of approval that became a “sell the news” event.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
