- XRP trades below $2.60 resistance as analysts track a potential retest of $2.00, following rejection on the 12-hour XRP/USDT chart.
- The XRP/BTC pair breaks out of a multi-year descending channel, supported by the 50 EMA and a sustained accumulation phase since early 2025.
- Major financial institutions submit XRP ETF applications, with clustered decision deadlines likely to influence short-term and long-term price movements.
XRP is down 3.18% in the last 24 hours and 13.16% over the past week. Major ETF approval deadlines are approaching, and main support levels are weakening. Traders are watching closely for the next major price move.
XRP Faces Pressure Below Resistance
Analyst Ali Martinez highlighted that XRP was struggling to reclaim the $2.60. This level previously served as strong support. The current price is hovering around $2.4955. The projection indicates a potential return to $2.00 if XRP fails to recover.
The chart marks the next major resistance at $3.30 and supports around $2.30 and $2.10. Failure to hold those levels could push XRP to test the $2.00 mark. A failed bullish attempt amid bearish market sentiment led to a rejection at $2.60.
Traders are cautiously awaiting volume confirmation before making decisions. Broader macroeconomic trends still remain a relevant factor to influence XRP’s direction.
Long-Term XRP/BTC Structure Turns Bullish
EtherNasyonaL shared a long-term XRP/BTC analysis that suggests a potential macro trend reversal. The chart shows XRP breaking out of a descending channel that has existed since 2017, crossing above the 50 EMA in late 2024.Followed by a re-accumulation phase, and then the recent market pullback retest.
This breakout from multi-year resistance is a notable event in XRP’s price structure, and it appears to be building a base for a potential bullish continuation. The prolonged accumulation above the channel shows strength.
If the price moves toward the 0.00014000 BTC level, a target not seen since 2018, we could see XRP outperforming Bitcoin over the next cycle.
ETF Deadlines May Define XRP’s Next Move
A series of XRP ETF and trust applications reviews are scheduled between October 18 and November 14. These include filings from major financial names like Grayscale, Bitwise, WisdomTree, and Franklin Templeton. The market is watching closely as these decisions approach.
The clustered deadlines create a window for strong market reactions. Early decisions from Grayscale (Oct 18) and Bitwise (Oct 20) could drive volatility across XRP markets. Later decisions, such as Franklin Templeton’s on November 14, offer a secondary reaction point.
This regulatory sequence follows XRP’s improved standing post-SEC case, adding confidence among institutions. Any approval may trigger renewed buying interest, while delays could lead to short-term price fluctuations.
