Key takeaways:
XRP finds support at $2.80, with a potential descending triangle breakout indicating a 23% increase to $3.66.
Approval of spot XRP ETFs by the US Securities and Exchange Commission may enhance momentum in October.
XRP (XRP) price increased by 5% over the past 24 hours, climbing 11% from its local low of $2.69 to trade just below $3 on Thursday. This upward movement positions XRP for additional growth in October, supported by various on-chain, technical, and fundamental indicators.
Onchain data bolsters XRP breakout potential
XRP’s record quarterly close on Tuesday occurred as the price rose above a crucial support zone between $2.75-$2.80, according to data from Cointelegraph Markets Pro and TradingView.
The cost basis distribution heatmap illustrates considerable activity in this range, where nearly 4.3 billion XRP were purchased, highlighting the significance of this level.
Maintaining this position is vital for a sustained recovery towards $3 and beyond.
“$XRP is currently navigating a descending triangle pattern as buyers persist in defending the $2.8 support area,” noted analysts at Alpha Crypto Signal, adding:
“This compression is setting up for a decisive move.”
The next key resistance is anticipated at the 0.618 Fibonacci retracement level, around $3, as indicated by the triangle’s descending trendline.
A breakthrough above this descending trendline with significant volume could initiate a bullish phase for XRP towards $3.40–$3.66.
As Cointelegraph stated, a significant breakout from a symmetrical triangle could spark a rally towards $4.20 in October, driven by whale buying.
SEC’s ETF approval expected to boost XRP value
The October ETF spotlight may also contribute positive momentum for XRP, with deadlines from the US Securities and Exchange Commission (SEC) approaching mid-month.
The agency is set to make decisions on six spot XRP ETF applications, including Grayscale’s, due by Oct. 18. Additional key deadlines for other applications fall between Oct. 19 and Oct. 25.
⚡️ INSIGHT: SEC deadlines for multiple $XRP ETF applications approaching in October. pic.twitter.com/oMCsGEM5dX
— Cointelegraph (@Cointelegraph) September 29, 2025
These rulings follow the SEC’s endorsement of streamlined listing standards for spot crypto ETFs, indicating a regulatory openness after the conclusion of Ripple’s lawsuit.
Related: Why XRP matters: 5 key factors driving its value beyond price
Approvals could unleash billions in institutional capital, as demonstrated by REX/Osprey’s XRPR, which launched on Sept. 18 with nearly $38 million in initial trading volume.
Even partial approvals would enhance sentiment, liquidity, and adoption, creating a self-sustaining rally in October’s critical window.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
