XRP bull run signal is strong: support level is holding, ETF approval is on the horizon, next target $3.8 | XRP price prediction

Highlights at a Glance

• XRP shows strength, finding solid support at $2.80, and the XRP/ETH trading pair is displaying bullish technical signals.
• Market optimism regarding the approval of Ripple ETF is growing, with Polymarket data showing that the approval probability has reached 87%.
• SEC is reviewing 11 XRP ETF applications, most of which have a decision deadline set for October.
• Despite the bulls' multiple recent attempts to stabilize the price above 3.0 USD, experts remain bullish on XRP's future performance as long as the support at 2.80 USD holds.

XRP Performance Expected to Outpace Ethereum

Renowned cryptocurrency expert CrediBULL Crypto pointed out that XRP is completing its 9-month consolidation near its historical high, which suggests a significant breakthrough may be imminent in the short term. Analysts believe that the XRP/ETH trading pair is currently at a critical support and midpoint level, further reinforcing the view that XRP is preparing for the next upward movement, while Ethereum (ETH) may enter a consolidation phase after its recent rise.

(Source: TradingView)

As shown in the figure above, the Relative Strength Index (RSI) also shows signs of recovery, while the price structure is forming support. CrediBULL Crypto emphasizes: "XRP/ETH trading pair has formed a confirmed bullish divergence on the daily chart and is also forming on the 3-day chart." Additionally, the growing optimism in the market regarding Ripple ETF may also provide momentum for the overall rise. According to a report by CoinGape, the long-term price outlook for XRP remains bullish, with a potential target of 5 dollars. However, this bullish scenario will fail if it drops below 2.60 dollars.

The probability of XRP ETF approval has surged to 87%

According to Polymarket data, the probability of XRP ETF approval has recently surged to 87%. Experts believe that after approval, the XRP ETF could attract as much as 5 billion dollars in investment within the first month.

ETH Store President Nate Geraci stated in his latest news on the X platform: "The approval probability of the XRP ETF on Polymarket for the year 2025 is 87%... Personally, I believe it is closer to 100%." He also pointed out earlier this week, "People are severely underestimating the demand from investors for XRP and Solana spot ETFs."

The biggest catalyst driving the price momentum of XRP is the SEC's review of 11 Ripple ETF applications submitted by companies such as Canary, WisdomTree, and Franklin Templeton. After multiple delays, the agency has set the deadline for most of the decisions on these documents for October. As the deadline approaches, analysts' bullish sentiment is growing stronger.

XRP Price Trend Analysis: Target $3.8?

Data shows that the XRP price is $2.79 at the time of writing, having risen by 3.1% in the past 24 hours, and rebounding 56% from this year's low. The token's market capitalization has reached $166 billion, with trading volume up 70% from the previous day, indicating that demand from spot traders is accelerating under bullish sentiment.

The rise of XRP is attributed to the bulls successfully holding the support level of $2.70, which has been a key support area since mid-July. Analysts believe that XRP must maintain this level to sustain a potential rebound in the coming days.

Looking at the daily chart, the XRP price has been trading within a descending triangle pattern for the past seven weeks. If the bullish momentum remains unchanged, a successful breakout from this pattern could push XRP to 2.96 USD, which is a recent lower high within the pattern. If it can break above this level, the price may trigger a rally with a target of 3.88 USD, based on the height of the triangle, which is 39% higher than the current price.

Bullish catalysts continue to accumulate

In addition to the technical aspects, several recent catalysts may also provide support for the rise of XRP:

First, the biggest catalyst this month will be the SEC deadline in October for approving some XRP ETFs. With the approval probability exceeding 80%, XRP may benefit from the positive sentiment of investors towards this.

Another factor supporting the rise of XRP is the recent resurgence of interest from whales. It has been reported that during the two-week market correction of XRP, whale wallets purchased over 340 million XRP, worth approximately $962 million, while exchange outflows surged by $268 million. This indicates that major participants may be quietly accumulating XRP, which could attract retail investors closely monitoring on-chain whale activities.

In addition, institutions seem to favor XRP. According to earlier reports, the Japanese listed company, the game company Gumi supported by SBI Holdings, has revealed plans to acquire approximately $17 million worth of XRP for its corporate treasury. This development highlights the growing recognition of XRP as a long-term store of value in enterprises.

Summary

The price of XRP has rebounded strongly after touching a key support level, and it is trading within a descending triangle that has persisted for several months. If it can successfully break through, its price is expected to rise by 39%. With the deadline approaching for the SEC's ETF decision, along with continued buying from whales and institutions, the price outlook for XRP remains bright. The combination of these multiple bullish catalysts makes it likely to experience a strong rally in the near future.