- XRP fell nearly 4% to $2.85 after profit-taking and a broad market correction.
- Upcoming ETF decisions could spark a rebound toward $4 or higher.
XRP’s Weekly Gains Wiped Out by Profit-Taking
XRP started the week with promising gains, climbing over 1%, but the optimism quickly faded. Today, the token dropped nearly 4%, trading at $2.85. Analysts attribute the pullback to profit-taking by institutional wallets, which created resistance around the $3.07 mark after a brief surge above $3.
The broader cryptocurrency market also experienced a 2% correction. Major coins, including Bitcoin, Ethereum, and solana, retreated after last week’s record highs, reducing the total market capitalization to $4.18 trillion. While the market pullback was sharp, it was largely orderly, reflecting a healthy recalibration rather than panic selling.
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ETF Decisions Could Ignite XRP Next Move
Despite the short-term decline, experts see potential upside if upcoming ETF catalysts perform as expected. Several spot ETF decisions are anticipated in mid-to-late October, which could provide the momentum XRP needs to push past the $3.10–$3.30 range. Analysts suggest that a sustained breakout could elevate XRP’s price toward $4.00–$4.20.
Retail traders remain cautious, with some bearish sentiment lingering, but ongoing accumulation near $3 shows a contrarian opportunity for those looking to enter the market. Fundamental sentiment is mixed, but institutional demand continues to support price stability.
Short-Term Risks and Long-Term Prospects
Technical indicators hint at possible short-term declines. If Bitcoin struggles to recover, XRP might test support levels between $2.60 and $2.80. A bearish MACD crossover could even trigger a steeper drop toward $2.17, aligning with the 50-week EMA.
Nevertheless, October could turn bullish if the SEC approves XRP ETFs, potentially mirroring Bitcoin’s historic ETF-driven spike. Analysts are projecting long-term averages ranging from $3 to $35 by the end of 2025, with a realistic chance for growth beyond $4 per XRP.
XRP’s recent pullback reflects broader market corrections and strategic profit-taking. However, ETF catalysts, institutional accumulation, and strong market fundamentals could pave the way for renewed gains in the coming weeks. Traders and investors should monitor ETF news closely, as mid-October decisions may define XRP’s trajectory for the rest of the year.
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