XRP -Price forecast prior to six Ripple ETF statements in October

XRP -Price forecast prior to six Ripple ETF statements in October

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In the last 24 hours, the XRP price rose with a fraction of a percentage to act at $ 2.79 from 1:17 am EST, even when the trade volume fell 58% to $ 2.8 billion.

This is when six applications for Spot XRP exchange-bound funds (ETFs) approaching deadlines of the decision.

The US Securities and Exchange Commission (SEC) is expected to express them between October 18 and October 25, which will determine whether XRP will be the third cryptocurrency after Bitcoin and Ethereum to gain access to ETFs with the US-listed spot ETFs.

The XRP ETF from Grayscale is planned for review on October 18, 21Shares Core XRP Trust ETF on October 19, BitWise’s XRP ETF on October 22, Canary Capital and Coinshares on October 23 and Wisdomtree’s XRP ETF entering on 24 October.

Nate Geraci, the president of Novadius Wealth Management, says “Get ready for October” after positive regulatory developments in the past two weeks, including a series of scoops he described in the next post:

XRP at a crossroads: Can bulls defend the most important support zone?

The XRP -price On the Daily Chart, a market shows under pressure, acting almost $ 2.79 after a steady decrease in his highs of mid -July.

The price price of the ripple -token has formed a falling channel pattern, which reflects a clear bearish -trend in recent weeks.

Every rally attempt has been achieved with sales pressure, so that XRP is locked under the upper resistance of the channel. XRP floats just below the 50-day simple advancing average (SMA) (at $ 2.96), while the 200-day SMA (for $ 2.54) remains a crucial long-term support level.

The Fibonacci racement of the July rally emphasizes the resistance to $ 3.09 (23.6%), $ 3.34 (38.2%) and $ 3.53 (50%). These levels remain critical obstacles if XRP tries a recovery.

In the meantime, the relative strength index (RSI) is currently at 41.5 and places it on Bearish territory but not yet sold over. This suggests that there can still be room for further down before strong accumulation appears.

In the meantime, the 50-day SMA has crossed over the XRP price and acts as dynamic resistance, while the 200-day SMA remains supportive, creating a battle between short-term preparation and long-term stability.

XRP/USD -Graphic analysis Source: Geckoterminal

Looking ahead, the price action of XRP will probably decrease as to whether it can be above the $ 2.55 support zone, which matches the 200-day SMA.

A breakdown below this level could cause a deeper retracement to $ 2.40.

At the top, the recovery of $ 3.00 would be the first strength text, with a potential outbreak above $ 3.34 open the path to $ 3.53 and then. For now, XRP remains at a crossroads, with the market awaiting confirmation of the next big step.

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