XRP has become a hot topic again after a long rally since early April, which saw its price surge 127% in just 102 days.
Despite going through a correction phase for over a month, the latest chart shows signs that this downward trend is starting to lose steam.
Interestingly, the support area tested on August 3rd at $2.72 was retested a few days ago. When the price fell to around $2.82, a green candle immediately appeared, suggesting that buyers were still confident in maintaining that zone.
In fact, in the last 24 hours, XRP has actually risen slightly by 0.8% to $2.91. This small movement may not seem dramatic, but it does signal that the asset hasn’t lost its momentum.
XRP’s next targets hinge on patience and bullish momentum
On the other hand, crypto analyst Master Ananda believes that further upside could begin at any time, although it will, of course, take months to fully realize the movement.
A realistic first target is said to be around $4.5 in the short term. However, if the bullish trend continues, the mid-level around $6.27 is also wide open. So, for investors, patience seems to be key again.
Furthermore, external factors also influence price direction. On-chain analyst Ali Martinez highlighted the massive selling by whales. In the last 10 days alone, around 470 million XRP were released into the market.
This is certainly not a small amount and could put additional pressure on short-term price movements. But surprisingly, despite the massive selling, the XRP price has remained above the support level.
October decisions could shape the path for ETF approval
Not only that, there are important events ahead in October. The SEC recently postponed decisions on several XRP ETF applications until October 18-19, 2025.
According to ETF analyst Nate Geraci, the chance of approval could reach 95% if the CLARITY Act passes. If successful, it could have a very positive impact on wider XRP adoption.
However, that’s not the only news to look forward to. Ripple is also still awaiting a decision on its US banking license, scheduled for the same month. These two factors have the potential to provide a major boost to the market, especially if they both result in positive outcomes.