Key takeaways:
XRP sets a support level at $2.80, with a potential descending triangle breakout suggesting a 23% surge to $3.66.
Approval of spot XRP ETFs by the US Securities and Exchange Commission may enhance October’s momentum.
XRP (XRP) price increased by 5% over the last 24 hours, marking an 11% rise from its local low of $2.69 to trade just under $3 on Thursday. This trend positions XRP for additional gains in October, supported by various on-chain, technical, and fundamental indicators.
Onchain data backs XRP breakout scenario
XRP achieved a record quarterly close on Tuesday, surpassing a crucial support zone between $2.75-$2.80, as reported by Cointelegraph Markets Pro and TradingView.
The cost basis distribution heatmap indicates intense activity in this range, where around 4.3 billion XRP were acquired, emphasizing the significance of this level.
Sustaining above this level is crucial for a continued recovery towards $3 and beyond.
“$XRP is currently situated within a descending triangle pattern, with buyers actively defending the $2.8 support zone,” noted analysts from Alpha Crypto Signal, adding:
“This compression is paving the way for a significant move.”
The next critical resistance is anticipated at the 0.618 Fibonacci retracement level, around $3, coinciding with the triangle’s descending trendline.
A breakout above the descending trendline with robust volume could trigger a bullish phase for XRP, targeting $3.40–$3.66.
As Cointelegraph highlighted, a decisive breakout from a symmetrical triangle could spark a rally towards $4.20 in October, driven by whale activity.
SEC’s ETF approvals to elevate XRP price
October’s focus on ETFs could also provide momentum for XRP, with important deadlines from the US Securities and Exchange Commission (SEC) approaching mid-month.
The agency is poised to make decisions on six spot XRP ETF applications, including Grayscale’s, with a due date of Oct. 18. The primary deadlines for other applications are set 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 decisions come after the SEC approved streamlined listing standards for spot crypto ETFs, indicating a regulatory shift following the resolution of Ripple’s lawsuit.
Related: Why XRP matters: 5 key factors driving its value beyond price
Approvals could unlock billions in institutional capital, as witnessed with REX/Osprey’s XRPR, which launched on Sept. 18 with nearly $38 million in first-day trading volume.
Even partial approvals are likely to improve sentiment, liquidity, and adoption, cultivating a self-reinforcing rally during October’s critical period.
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.
