October promises to be a pivotal month for XRP with imminent SEC decisions on ETF applications and Ripple's bid for a national banking charter.
Regulation and Market Expectations
The SEC has delayed decisions on several high-profile XRP ETF applications submitted by companies like Grayscale and 21Shares. Final rulings are expected between October 18 and 25. In anticipation of regulatory clarity, XRP continues to face price pressure.
Price Trends and Technical Analysis
XRP is trading around the $3 mark. Recent negative forecasts regarding ETF have pulled the price down to $2.90–$3.00. A breakout above resistance at $3.15–$3.20 could lead to a rise towards $3.50.
General Sentiment and Price Forecasts
Analysts are optimistic, with some forecasting a rise to $4.47 and others seeing a potential surge of 333% within weeks. Current market indicators suggest accumulation of tokens, which may indicate preparation for the key events in October.
October is a decisive month for XRP, where the outcomes of SEC decisions could dramatically propel or negatively impact the crypto market's trends.
