XRP Resurgence Incoming?
XRP’s valuation has plunged by 7% over the last seven days and currently trades at around $2.82 (per CoinGecko’s data). It is important to note that whales have sold 440 million tokens in the past month (equivalent to more than $1.2 billion), and that could have contributed to the negative performance.
However, many analysts remain optimistic that the bull run is far from being over. X user CasiTrades, for instance, thinks a major breakout could be on the horizon, citing strong technical signals. She noted that the recent lows continue to hold the “significant support on the macro scale” at $2.79. Furthermore, she believes XRP has broken above a certain consolidation pattern. Having said that, the analyst argued that the macro targets of $8‑$13 remain “entirely possible if momentum continues strong.”
Ali Martinez chipped in, too. He envisioned a rebound to $3.10 if XRP finds support at $2.73. At the same time, some popular names, like the veteran trader Peter Brandt, are not so bullish. Just a few hours ago, he added the asset to his list of “short candidates,” noting that the downtrend could be in play if the price falls below $2.68.
What About ETH?
The second‑largest cryptocurrency is also in red territory on a weekly scale, albeit posting less substantial loss than XRP. As of this writing, it trades at around $4,350, but some important indicators, such as the recent whale accumulation and shrinking reserves stored on exchanges, hint that “Uptober” may be highly beneficial.
Analysts are also optimistic. X user ZYN spotted a so‑called Wyckoff accumulation pattern of ETH’s weekly chart and set a target of $8,000 for Q4. However, the price must first register a weekly close above $4,750. Crypto Caesar shared a similar thesis, forecasting a major pump to as high as $10,000. He also claimed the rally has at least half a year left.
Martinez was in the pessimists’ corner this time. He described the $4,000‑$4,800 price range as a “danger zone” and suggested the price could plummet to $3,780 in the short term.
Is SOL Ready for Something Big?
Lastly, we will touch upon Solana’s native token, whose valuation hovers around $220, representing a 5% decline over the past week. According to Lark Davis (an X user with almost 1.5 million followers), the price has formed a typical “cup and handle” pattern on the monthly chart, which suggests an explosion to $425 could be on the way.
He highlighted the potential approval of the first spot SOL ETF in the US as a main catalyst that could fuel the rally. Some of the prominent companies willing to introduce such a product include Grayscale and Canary Capital.
The SEC’s decision deadline for Grayscale’s application is October 10, though it remains uncertain whether any announcement will be made today due to the ongoing shutdown of the American government.