Key Points
- •XRP surpasses $3 amidst ETF expectations and institutional interest.
- •Facing significant sell pressure near $3.10–$3.30.
- •Potential $4 target if macro conditions are favorable.
XRP surpassed $3 fueled by ETF speculation and institutional inflows, encountering $950 million sell pressure, with targets up to $4 if favorable conditions align.
This rally highlights the impact of macroeconomic factors on cryptocurrency markets, underscoring the critical role of regulatory approval and liquidity dynamics.
XRP has recently exceeded the $3 mark, fueled by ETF speculation and institutional flows.
The cryptocurrency now contends with a significant sell pressure of approximately $950 million in liquidity overhead, creating challenges in the $3.10 to $3.30 range.
Current Developments
Key public figures such as Brad Garlinghouse (Ripple CEO) and David Schwartz (Ripple CTO) remain publicly silent about this price shift. Official Ripple channels continue to focus on broader developments and cross‑border integration.
ETF inflows are the main catalyst, with potential $10 billion projections if launched. XRP ETFs' approval remains dependent on U.S. SEC decisions, now facing delays due to a government shutdown.
Market Impact
This XRP surge coincided with major crypto market shakeouts, leading to large whale and institutional accumulations. SBI Holdings has expanded its XRP lending programs, bolstering its institutional presence in Asia.
Technical Analysis
Historical data indicate that past XRP rallies have followed technical patterns like the RSI “golden cross.” Such patterns have historically led to large price increases, driven by robust catalysts.
“October is the perfect storm for XRP with the bank license and ETF decision likely to hit in the same month.” – Bill Morgan, Pro‑Crypto Attorney
Future Prospects
Analysts speculate that, should favorable macro and regulatory factors align, XRP could aim for a $4 target. The market eagerly awaits further developments regarding the SEC and ETF approvals.