XRP Price Holds Near Monthly Open
XRP, Ripple’s native token, is trading at $2.84. This is close to its monthly open price of $2.77. The token lost 15.79% of its gains over the past two weeks.
Key Support and Resistance Levels
The $2.75 level is crucial for XRP. It matches the September 1 open and forms the lower boundary of a symmetrical triangle on the daily chart.
If XRP stays above $2.75, it could rise past $2.86. This level aligns with the 100-day simple moving average. A break above may lead to a target of $3.62, the triangle’s swing high.
However, a drop below $2.75 could push XRP down to $2.00, the bearish target of the pattern.
Data from Glassnode shows strong demand between $2.72 and $2.75, with nearly 1.58 billion XRP bought in this range. Supply near $2.81 could slow recovery.
October’s Mixed History and Upcoming XRP ETF Decisions
October, known as “Uptober” in crypto, has shown mixed results for XRP. Since 2013, XRP closed lower in seven out of 12 Octobers. The average return for October is –4.58%, according to Cryptorank.
However, XRP performs strongly in the fourth quarter. From October to December, it averages gains of about 51%. In Q4 2024, XRP rose nearly 240%. In 2023, it gained 20%, and in 2017, it surged 1,064% in two months. Even in bearish years like 2018 and 2022, Q4 saw large price moves.
October also features key XRP ETF decisions. Franklin Templeton’s filing deadline is November 14. The U.S. SEC will decide on Grayscale’s ETF by October 18. Other XRP ETF decisions are due between October 19 and 25. At least six XRP ETFs will be reviewed.
Analysts estimate ETF approvals could bring $4–$8 billion into XRP within a year. Some warn this news might be priced in, risking a “sell the news” reaction.
