According to renowned market analyst EGRAG CRYPTO, XRP may be approaching a critical turning point.
The analyst suggests that the next time XRP forms a bullish engulfing candle on the weekly chart, the token could surge to new all-time highs, potentially reaching around $7.30.
Such a move would represent one of XRP’s most significant price rallies in years, fueled by technical strength and renewed investor optimism.
A bullish engulfing candle is a well-known pattern in technical analysis, signaling strong momentum when buyers fully eclipse prior selling pressure.
For XRP, which has long traded in a range amid regulatory battles and market uncertainty, the confirmation of this signal on a weekly timeframe could mark the start of a major breakout. If realized, the $7.30 level would surpass XRP’s historical peak of around $3.65, cementing a new milestone for the digital asset.
However, EGRAG CRYPTO also cautions that risks remain if Bitcoin, the broader market’s anchor, experiences further downside pressure. Should BTC decline significantly, XRP may fail to sustain bullish momentum, with critical support levels at $2.60 and, in a deeper correction, $2.37.
These zones, according to the analyst, represent essential lines of defense for XRP holders and could determine whether the asset consolidates before another attempt at upward movement or slips into a prolonged retracement.
At the time of this writing, XRP was trading at $2.79, according to CoinGecko data.
According to crypto pundit John Squire, October could mark a watershed moment for XRP and the broader digital asset market as multiple financial heavyweights line up their XRP Spot ETF filings.
If approved, these products would open the door for mainstream investors to gain direct exposure to XRP through traditional stock exchanges, potentially ushering in new levels of liquidity and legitimacy.
October’s XRP ETF calendar is stacked as Grayscale kicks off on the 18th, followed by 21Shares (19th), Bitwise (20th), Canary Capital (23rd), WisdomTree (24th), and dual filings from Franklin Templeton and CoinShares on the 25th, according to Squire.
This tight clustering underscores surging institutional confidence in XRP and intensifying competition to seize first-mover advantage.
Unlike futures-based products, spot ETFs hold XRP directly rather than derivatives, offering investors lower costs, tighter price tracking, and stronger integration with traditional finance.
For XRP, multiple ETF approvals could unlock significant new demand, drawing in institutions and retail investors who prefer regulated, accessible investment vehicles.
As a result, Squire stresses that October won’t hinge on just one approval, it could be the month that cements XRP as a mainstream asset.
With October approaching,even one ETF approval could ignite momentum, but multiple greenlights may solidify XRP as a core asset in traditional portfolios.
XRP’s next move depends on technical signals and Bitcoin’s market sway. A confirmed bullish engulfing candle could propel prices to $7.30, a historic breakout. But losing support at $2.60 and $2.37 would hand control back to sellers, postponing the rally.
