XRP Soars Above $3 as Traders Anticipate 40% Breakout in October
Breaking Through: XRP’s Potential Surge to New Heights
XRP Reclaims $3: Is a Breakout to $4.32 on the Horizon?
XRP (XRP-USD) has bounced back above the $3 mark, and market analysts are predicting a potential breakout that could drive its value to as high as $4.32 in the upcoming weeks. Historical analysis suggests this powerful technical signal has preceded some of XRP’s most significant rallies, and it appears to be flashing again this October.
Golden Cross on RSI Sparks Optimism
The three-day relative strength index (RSI) for XRP has recently crossed above its 14-period moving average, forming what is known as a golden cross—a strong bullish momentum indicator. In past months, this has led to notable gains:
- June: A 75% increase
- April: A gain of 28%
- November: A 575% surge to all-time highs
This current signal is significant as XRP is testing support at its 50-period exponential moving average, a level known for underpinning past breakouts. The conjunction of this support and the golden cross is fueling expectations for another robust upward move.
October Price Targets: Could XRP See a 40% Gain?
If XRP can maintain a price over $3 and break resistance at $3.39, projections indicate key targets at $3.98 and $4.32. Achieving these would provide gains between 30% and 40% over the next month. Both the Fibonacci retracement levels and a bullish descending triangle suggest further upside potential, offering traders multiple reasons for optimism. Analysts also highlight the current setup as stronger than previous cycles due to increased liquidity and growing institutional interest.
Investor Confidence Remains Steady as ETF Decisions Loom
Despite XRP’s recent rebound, on-chain data shows limited profit-taking, with the percentage of XRP’s circulating supply in profit remaining stable since November 2024. This suggests long-term holders are demonstrating patience and conviction over quick sell-offs. This confidence comes at a crucial time with several XRP exchange-traded funds awaiting regulatory decisions this month.
Investors view possible ETF approvals as a major boost for both liquidity and adoption. The muted selling in the market suggests a growing belief in XRP’s long-term prospects. With technical indicators aligning and significant catalysts on the horizon, analysts predict that XRP could be poised for one of its strongest rallies this year. As of now, XRP is trading at $3.0322.
