Key Insights
- •Analyst EGRAG Crypto assigned a 70% probability to a flush on XRP price toward $2.35‑$2.40 before a sustained uptrend.
- •XRP products registered $93.1 million in weekly inflows between Sept. 22 and 26, the second‑largest among crypto assets.
- •Bloomberg analyst Eric Balchunas stated that altcoin ETF approvals in the US reached 100% certainty following SEC guidance changes.
XRP price was at $2.8414 as of press time, positioning itself for a potential correction toward $2.40, which analysts characterized as structurally healthier than an immediate upward movement.
The Ripple coin lost the $3 level on Sept. 18 and declined 1.35% in the past 24 hours. Analyst Egrag Crypto shared a technical analysis on Sept. 29, sustaining the case for a near‑term flush.
XRP Price Targets $2.35‑$2.40 Range
Egrag Crypto assigned a 70% probability to a flush before an uptrend, which he described as healthier from a structural perspective.
The analyst identified a 30% chance XRP price could surge immediately, but warned this scenario could lead to a sharp correction.
He noted:
“Many technical analysts, including myself, believe that prices tend to revert to fair value over time, which often leads to gaps being filled.”
Egrag identified the fair value gap at $2.35‑$2.40 based on the principle of mean reversion.
The analyst used a three‑day chart timeframe to capture long‑term trends while considering short‑term price movements.
He noted the previous gap fill took approximately 129 days, placing a similar timeframe around Nov. 15, though he emphasized price movements over specific dates.
The analyst also anticipated an initial drop to $2.65 for XRP price. If that level held with confirming price action, it could represent the bottom.
However, he stated he was looking for a Ripple coin dip to $2.30‑$2.40 before the final upward leg commenced.
A filled fair value gap could indicate a reversal from a downtrend and serve as a critical level in technical analysis.
The analyst preferred a flush scenario over immediate appreciation, emphasizing the structural benefits of a reversion to fair value before sustained upward movement.
Support Levels Draw Technical Attention
Analyst Ali Martinez shared on Sept. 28 that XRP price held the $2.70 area. He identified potential bounces to $3 or $3.15 based on technical support patterns for Ripple coin.
The chart showed multiple historical support tests around $2.70‑$2.80 over the previous months.
Analyst Steph is Crypto noted on Sept. 30 that the XRP liquidation heatmap showed heavy clusters forming below $3.
The concentration of liquidation levels suggested potential volatility if the price tested those zones.
The heatmap displayed yellow‑to‑green intensity around the $2‑$2.50 range, indicating accumulated positions vulnerable to liquidation.
Egrag Crypto explained that fair value gaps acted as significant support ranges:
“I’m hoping it holds to enable a more aggressive pump, potentially forming a solid bottoming structure.”
ETF Approval Certainty Could Boost XRP Price
Bloomberg senior ETF analyst Eric Balchunas stated on Sept. 29 that the odds of altcoin ETF approvals in the US reached 100%.
His commentary addressed a report by journalist Eleanor Terrett, in which the SEC was said to have asked issuers to withdraw filings and refile under recently approved generic listing standards for crypto ETFs.
As of Sept. 30, six spot XRP funds awaited approval with deadlines ranging from mid‑October to mid‑November. Investors are optimistic about a likely XRP price rally in the near future.
Amid this landscape, Ripple products registered the second‑largest weekly inflows between Sept. 22 and 26, reaching $93.1 million, according to CoinShares data.
The movement was likely a positioning by investors, who are anticipating the ETF approvals and expecting a price increase.
XRP price is positioned for a potential correction toward $2.40 in the near term. However, the longer‑term outlook remains constructive as institutional inflows accelerate ahead of expected altcoin ETF approvals.