XRP Shows Strength After 10 Months of Accumulation

Key Points:

• XRP forms bullish rectangle after 10 months, trading above long-term channel support.
  
• Analysts project breakout targets from $6 to as high as $37 if momentum continues.
  
• October ETF decisions could unlock institutional inflows and fuel a major rally.

XRP has been consolidating for nearly ten months, forming a rectangular range that analysts view as a bullish accumulation pattern. The token trades near $3.00 after posting an 8.26% daily gain, signalling renewed investor interest.

Source : X

Analyst EGRAG highlights XRP’s position above the long-term ascending channel called “The Bifrost Bridge,” which stretches back almost a decade. Price action continues to respect this structure, and the consolidation suggests growing strength instead of distribution.

Breakout Scenarios Point to Higher Levels

The yellow accumulation zone highlights a bullish rectangle pattern, with a potential breakout targeting $6.00 to $11.00. If XRP sustains momentum, these levels align with the upper channel boundaries, offering clear upside potential.

XRP repeating 2017-style pattern | Source : X

Another analysis from CryptoBull shows XRP repeating a 2017-style pattern, consolidating under $3.50 resistance before a projected explosive breakout. The projection suggests a rally toward $30–$37, should the historical cycle repeat under similar conditions.

ETF Decisions Could Shape Market Direction

The upcoming October ETF decision cluster introduces a major catalyst, with several issuers, including Grayscale, 21Shares, and Franklin Templeton, awaiting rulings. Approval of even one ETF could drive institutional inflows, expand liquidity, and fuel a parabolic move higher.

The buildup around these applications reflects rising institutional interest, but rejection or delays could spark short-term volatility. However, the scale of issuers involved shows a growing push to establish XRP as a regulated investment product.

Trading Activity and Sentiment Remain Strong

XRP trades at $2.9796, reflecting a 1.57% daily decline and a 4.14% weekly pullback. Yet, longer-term metrics remain robust, with the token up 407% over the past year.

Trading volumes also highlight active participation, with $4.95B in futures volume and $890M in spot activity in the last 24 hours. Open interest stands at $8.88B, and long positions dominate, reinforcing the prevailing bullish bias despite recent weakness.