XRP News Today: XRP's $2.85 Hurdle: Catalyst for $5.9 Surge or Correction?

XRP has emerged as a focal point in the cryptocurrency market, with analysts and traders emphasizing its potential for a significant price move. Options data from Deribit indicates a growing bullish sentiment, particularly in the December expiry calls, which trade at a premium of 6 volatility points to puts, signaling anticipation of a year-end rally [1]. This optimism is further supported by the accumulation of nearly 1.7 million XRP tokens in one month, marking the strongest buying spree in over two years [1]. Analysts attribute this surge to renewed excitement over potential U.S. spot ETF approvals, with major issuers like Bitwise, 21Shares, and WisdomTree awaiting decisions from the SEC. The approval of these ETFs could trigger substantial inflows, with estimates suggesting initial inflows could exceed $5 billion [1].

Technical analysis further bolsters the bullish outlook. Prominent analyst Michael XBT, known for accurate market predictions, has urged XRP holders to “Watch XRP this week,” suggesting a potential reversal after weeks of bearish performance [2]. His previous predictions, including the successful forecast of XRP breaking out from a seven-year bull pennant in mid-2024, have been proven accurate. Other analysts, such as Davie Satoshi and Dark Defender, have highlighted Elliott Wave patterns suggesting XRP is entering a powerful Wave III phase, potentially driving the price toward $3.35 and beyond [3]. The $2.85 resistance level is seen as critical, with further gains contingent on its successful breakout.

Fundamental developments also contribute to the bullish narrative. Ripple’s acquisition of Rail Financial, the launch of its RLUSD stablecoin, and the global rollout of ISO 20022 standards in November are viewed as catalysts for increased adoption and utility [3]. These moves, coupled with the recent Alpenglow upgrade on the Solana blockchain, highlight broader momentum in the crypto space. Additionally, Ripple’s partnerships, including its collaboration with Thunes, position XRP as a key bridge asset for cross-border transactions, payroll, and remittances [3]. This utility-driven growth model is seen as more sustainable compared to speculative trading dynamics.

However, analysts caution against overlooking risks. On-chain metrics like the Network Value to Transactions (NVT) ratio have spiked, raising concerns about overvaluation relative to transactional activity. A high NVT ratio suggests that XRP’s price might have outpaced its fundamentals, potentially leading to a correction if the $2.85 resistance fails [1]. Moreover, the volatile nature of the broader crypto market and unresolved macroeconomic pressures remain potential headwinds. Despite this, many observers believe XRP is better positioned than other altcoins due to its clear utility, regulatory clarity, and expanding institutional adoption.

Looking ahead, the critical focus remains on the SEC’s upcoming decisions regarding XRP ETFs, expected between October 18 and October 25. A favorable outcome could catalyze a broader institutional demand wave, mirroring the dynamics seen with Bitcoin ETFs. Meanwhile, technical indicators, including the Bollinger Bands and RSI, suggest a period of consolidation before a potential breakout above $3.07. If bulls succeed in pushing through this resistance, XRP could see a retest of the $3.7 level, with longer-term targets in the $5.9 to $10 range depending on regulatory developments and market sentiment [4]. The next few weeks will be pivotal in determining whether XRP can maintain its bullish momentum or face a consolidation phase as macroeconomic factors and market conditions evolve.

Source:

[1] XRP Hits Record-Breaking Buying Spree (https://www.cointribune.com/en/crypto-xrp-records-a-buying-record/)

[2] Market Psychologist Says Watch XRP This Week: Here's Why (https://thecryptobasic.com/2025/09/08/market-psychologist-says-watch-xrp-this-week-heres-why/)

[3] Analyst Says XRP Setup Is Too Clean to Ignore, Builds ... (https://thecryptobasic.com/2025/09/08/analyst-says-xrp-setup-is-too-clean-to-ignore-builds-case-for-30-price/)

[4] XRP Price Targets $3.33 Breakout in Elliott Wave Context (https://www.thecoinrepublic.com/2025/09/04/xrp-price-targets-3-33-breakout-in-elliott-wave-context-details/)