XRP Faces Resistance Test; Analyst Forecasts Significant October Movement Due to Historical Patterns

In the world of cryptocurrencies, October is shaping up to be a significant month for XRP investors. With a four-year cycle pointing towards a potential rally, the stage is set for potential price increases.

According to betting markets on Polymarket, there's an 87% chance of XRP ETF approval in October. This approval could draw in new investments of $5 to $8 billion, as per historical trends.

The prediction, made by analyst Alexander Fournier on a YouTube channel called YourPOP, is based on historical trends and a four-year cycle that preceded larger rallies in 2013, 2017, and 2021.

The XRP/BTC pair shows tightening Bollinger Bands, indicating potential for a significant price movement. Analysts like CilinixCrypto predict near-term targets between $3.07 and $3.13, with $3.30 as a longer-term resistance level. CoinsKid identifies short-term support at $2.66 and a minimum upside target of $4.13.

However, it's important to note that these outcomes are dependent on broader market conditions, regulatory developments, and adoption trends. As JamesCrypto Space and Zack Rector suggest, ranges up to $9 and $5-$15, respectively, are possible, but market tops are rarely predicted.

DeepSeek AI expects a range of $3.50 to $5.00 by late 2025, with a longer-term potential of $8 to $15 by 2030. DiscoverCrypto's analysis suggests larger XRP allocations may yield limited returns unless prices reach extreme levels.

The U.S. Securities and Exchange Commission has a deadline in October, and nearly 10 applications for an XRP ETF are currently under review by regulators. This could speed up the approval process, further fuelling the bullish sentiment.

The price of XRP has retreated after encountering resistance at the $2.86 level. However, the report states that overall market sentiment is currently in "fear" territory. This retreat follows a strong bullish advance that began after XRP formed a double bottom pattern at a key support area.

Analyst Oscar Ramos, in his recent report, noted that XRP holders have shown resilience despite recent price changes. He suggests the $2.70 level could represent a potential buying opportunity based on technical indicators.

The fourth quarter is often strong for alternative cryptocurrencies, with historical trends indicating that September often sees weaker performance, while October and November tend to be stronger. This trend, coupled with the potential for an XRP ETF, makes October a month to watch for XRP investors.

The analysis encourages a longer-term perspective, suggesting that investors should consider the potential benefits of a diversified portfolio and the importance of staying informed about regulatory developments and market trends. As always, it's crucial to do your own research and consult with a financial advisor before making any investment decisions.

XRP Faces Resistance Test; Analyst Forecasts Significant October Movement Due to Historical Patterns