The price of XRP has surpassed the psychological barrier of $3, generating renewed optimism in the market. This movement is reinforced by a recurring technical signal that has appeared on its chart. A key indicator, which in the past has preceded massive rallies, is flashing again.
A technical indicator known as the RSI “golden cross” has appeared on the 3-day chart for XRP. This cross has preceded major rallies in the past. For example, the price surged over 75% one month after this signal appeared in June. Similarly, increases of 28% and a staggering 575% were recorded after similar crosses in April and November of last year, respectively. The confluence of this signal with the recovery of the $3 level and support at the 50-period exponential moving average strengthens the bullish case.
Price levels and investor sentiment
Technical analysts are observing several potential targets for the XRP price in October. The break of the $3 level opens the way to the Fibonacci retracement level at $3.39. If it manages to close decisively above that point, the next target is near $4.32, which would represent an increase of around 40%. Additionally, the breakout from a descending triangle pattern points to a target of $3.98. This further reinforces the bullish outlook.
On-chain data complements the technical analysis. The percentage of the XRP supply in profit has remained stable. XRP holders are exercising patience, unlike in previous cycles where profit peaks coincided with massive sell-offs. This stability suggests that investors have stronger conviction in the current trend, especially ahead of the multiple decisions on XRP ETFs expected this month. The digital economy is closely watching these developments.
The outlook for the XRP price in October appears markedly bullish. The combination of a powerful technical signal with a patient and expectant market sentiment creates a favorable scenario for the continuation of the rally. Investors will be watching to see if the asset can capitalize on this momentum and reach the ambitious price targets that have been set.
