XRP Price: Symmetrical Triangle Targets $3.60 as ETF Decisions Approach

TLDR

XRP currently trades around $2.86 after a 14% drop over two weeks, testing critical support at $2.75 Price must hold above $2.75 to avoid bearish target of $2.00 and maintain bullish consolidation pattern Breaking $2.81 resistance could trigger 30% rally to $3.62 target based on symmetrical triangle formation October historically weak for XRP with average -4.58% returns, but Q4 typically brings strong rallies XRP ETF approvals expected between October 18-25 could provide institutional capital inflows

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XRP price trades at $2.86 near the monthly open of $2.77 following a 14% decline over the past two weeks. The cryptocurrency now attempts a recovery wave above the $2.820 zone while facing multiple technical barriers.

XRP Price

The price found support near $2.70 and began a recovery similar to Bitcoin and Ethereum. XRP managed to surpass the $2.780 and $2.80 resistance levels during this upward move.

Technical analysis shows XRP cleared the 50% Fibonacci retracement level from the $2.995 swing high to the $2.70 low. However, the price now encounters hurdles near the $2.88 level.

A connecting bullish trend line forms with support at $2.80 on the hourly chart. The price currently trades above $2.820 and the 100-hourly Simple Moving Average.

Critical Support Level at $2.75

XRP faces a crucial test near the September 1 open around $2.75. This level aligns with the lower boundary of a symmetrical triangle pattern on the daily chart.

Source: TradingView

Holding above this trendline increases chances of breaking the descending trendline around $2.86, which coincides with the 100-day simple moving average. Such a move could reach the bullish target of $3.62.

Glassnode distribution data reveals a large demand cluster between $2.75, where nearly 1.58 billion XRP were acquired. This reinforces the importance of maintaining this support level.

However, supply resistance sits around $2.81, embraced by the 100-day SMA, which could limit short-term recovery efforts. A drop below $2.75 might trigger another sell-off toward $2.00, the bearish target of the symmetrical triangle.

Analysts remain cautiously optimistic about the current price action. One analyst noted that XRP remains in solid bullish consolidation as long as price holds above the $2.72-$2.75 range.

Historical October Performance Challenges Bulls

October typically presents challenges for XRP performance. Since 2013, the cryptocurrency closed in negative territory for seven of the past 12 October months, with average returns declining about 4.58%.

Source: CryptoRank

Despite October struggles, November represents XRP’s best performing month historically. The period between October and December forms the strongest quarter for XRP price rallies.

This three-month period remains the only quarter with average gains of 51% according to Cryptorank data. Recent years show Q4/2024 delivered 240% gains while Q4/2023 produced 20% returns.

The 2017 rally proved more exponential with 1,064% gains between October 1 and December 1. Even during bear cycles like 2018 and 2022, the fourth quarter consistently delivered substantial price movements.

If historical patterns continue, XRP’s price action could reverse completely in Q4/2025, with recovery potentially beginning by mid-October.

Current technical indicators show mixed signals for the near-term outlook. The hourly MACD gains pace in the bullish zone while the RSI trades above the 50 level.

Major support levels sit at $2.80 and $2.720, while resistance appears at $2.880 and $2.920. The first major resistance near $2.920 could send XRP toward $2.9880 if cleared decisively.

Further gains might push the price toward $3.020 resistance, with the next major hurdle near $3.050 for bulls to overcome.

ETF approval decisions between October 18-25 could provide institutional capital catalyst, with Franklin Templeton’s decision pushed to November 14 and Grayscale’s expected October 18.

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