XRP price is consolidating at $2.80 as the crypto space awaits October decision from the U.S. Securities and Exchange Commission on Ripple ETF applications.
Currently, the token’s chart is displaying a cup and handle pattern, with the $3.55 level acting as the neckline and resistance level. If buyers finally push above this level, analysts believe XRP could climb toward $6 in the months ahead
Between July and September, XRP moved inside a falling wedge after being rejected at $3.50. This pattern is often linked to continuation in an upward direction. Traders say a push above $3.20 would add strength and pressure on the neckline at $3.55. Breaking that level could release stronger momentum and confirm a long-term breakout
Meanwhile, the Relative Strength Index (RSI) is sitting at 40, which means sellers are losing strength but without sending the market into oversold conditions. Bollinger Bands are also very tight, which usually signals that a bigger move is near. The middle band at $2.95 has become an important pivot level for shorter-term price action.
Moreover, optimism about a Ripple ETF is now one of the biggest factors supporting XRP. According to the prediction market, approval odds have jumped to 87% as the SEC reviews eleven separate applications, when the deadline is expected in October.
Analysts estimate that approval could bring as much as five billion dollars into XRP during the first month alone.
“The consolidation signals that XRP may be ready for its next upward move,” Crypto analyst CrediBULL Crypto posted on X in reference to nine months of steady trading. “We are currently in the process of printing a bull divergence on the D3 timeframe as well,” highlighting signs of strength in XRP’s performance compared to Ethereum
According to ETH Store President Nate Geraci, demand for an XRP ETF is very strong. He even suggested that approval odds were “closer to 100%.” He believes investor interest could exceed early expectations.
Despite failures to stay above $3.0, analysts remain confident as long as $2.80 holds. Firms such as Canary, WisdomTree, and Franklin Templeton have filed applications, and this shows the institutional confidence in Ripple even while it faces regulatory battles.
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