3 reasons why XRP’s time spent under $3 could be short-lived

XRP has experienced a challenging phase after briefly breaking above $3 on October 2, only to fall back to $2.84 due to a loss of support. However, several indicators suggest that this downward trajectory may be temporary. Investor optimism regarding upcoming XRP ETF decisions could potentially drive prices upward, as the SEC is nearing deadlines for 16 crypto ETF applications in mid-October. If approved, these ETFs might attract $3 to $8 billion in institutional funds. Additionally, despite the prevailing retail pessimism, whale accumulation has been significant, with large holders adding 55 million XRP worth nearly $1.1 billion. Analysts further predict that if XRP can break above $3.30, it could see gains of 60% to 85%. However, caution remains, with experienced traders noting that a daily close below $2.65 could signal further decline. Overall, while challenges persist, underlying bullish trends and whale activity may point to a potential rebound for XRP soon.

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