Key Insights
- XRP has printed a golden cross pattern on its daily chart.
- Spot XRP ETFs are experiencing robust inflows, indicating growing interest.
- The supply of Ripple USD (RLUSD) continues to expand this month.
XRP has lagged behind the broader cryptocurrency market. Throughout September, the token stayed confined within a tight consolidation phase while competitors like Quant, Near Protocol, Midnight, and Raydium registered triple-digit gains. This overview examines what lies ahead in October and whether a recovery is on the horizon.
XRP Price Has Bullish Technicals
On the daily chart, XRP has traded sideways since August, staying bounded inside a narrow corridor framed by support at $1.2522 and resistance at $1.6565.
Nevertheless, a closer examination reveals promising technical indicators. The token recently completed a golden cross pattern—an occurrence where the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA. The prior instance of an XRP golden cross happened in November 2024 and triggered a parabolic rally.
Furthermore, XRP holds steady above the Supertrend indicator, suggesting that buyers remain in control. Both the Relative Strength Index (RSI) and the MACD have maintained an upward trajectory this month.
The chart also outlines the gradual formation of a falling wedge, characterized by two downward-sloping and converging trendlines. Such formations often point toward a significant bullish breakout in the weeks ahead. Should this materialize, the primary target will be the August peak of $1.70. A decisive push past that threshold would pave the way for additional advances, potentially testing the psychological milestone of $2.00.
XRP ETF Inflows Points to More Demand
Fundamental metrics indicate that XRP possesses strong underlying support that could drive further upward momentum. Chief among these catalysts is the sharp increase in spot XRP ETF inflows, pointing to active accumulation by U.S. investors.
Spot XRP ETFs attracted more than $121 million in inflows during September. Bitwise’s XRP leads the sector with upwards of $615 million in assets, followed by Franklin Templeton’s XRPZ holding over $437 million, and Canary’s XRPC with $372 million.
Since gaining approval last year, XRP ETFs have posted net outflows in only a single month—March—when investors redeemed upwards of $31 million. In total, these funds have accumulated over $1.79 billion in inflows.
This steady influx of capital highlights mounting retail and institutional demand, creating a constructive backdrop. According to the Wyckoff Theory, this activity reflects an accumulation phase typically succeeded by a markup stage.
Ripple USD is Benefiting From More Inflows
XRP may also draw strength from advancements within the stablecoin ecosystem. Statistics show that the Ripple USD (RLUSD) stablecoin is steadily capturing market share over the course of the year.
Data provided by DeFi Llama highlights a continuous expansion in RLUSD supply throughout the month, bringing its assets past the $2 billion mark. Significantly, indications show that the volume of RLUSD locked within the XRP Ledger is narrowing the gap with amounts held on Ethereum.
Such developments are encouraging because greater utilization translates to increased revenue for the XRP Ledger, which can subsequently be allocated toward burning XRP tokens.
An additional positive catalyst for XRP in October is the possibility that the Federal Reserve might hold interest rates steady in response to easing inflation. Additionally, a prospective agreement between the U.S. and Iran could act as a bullish driver for XRP alongside other digital assets.
To summarize, XRP benefits from a blend of solid technical indicators—such as the newly formed golden cross and its standing within the Wyckoff accumulation phase—alongside powerful fundamentals underscored by climbing ETF inflows.
This article is for informational purposes only and does not constitute financial or investment advice. Technical patterns and market projections do not guarantee future price performance.