Karla Barker 
Strong Q3 Performance Sets Stage for Q4
XRP finished the third quarter with impressive momentum, climbing from $2.20 in early July to $2.90 by September’s end. That 31% gain represents one of the token’s strongest quarterly showings in recent memory. The sustained upward movement has caught the attention of technical analysts who see potential for further gains in the final quarter of the year.
Looking at the broader picture, this bullish quarterly close above long-term resistance levels hasn’t happened since 2017. That previous setup preceded what became one of XRP’s most explosive price rallies in its history. The current technical structure appears to mirror those conditions, though past performance doesn’t guarantee future results.
Technical Patterns Point to Potential Upside
The technical analysis community has identified what appears to be a multi-year inverse head-and-shoulders pattern that recently broke to the upside. These patterns typically suggest trend reversals when they complete, and the current breakout suggests potential continuation of the upward movement.
Analyst Mikybull outlined specific price targets based on this pattern. Immediate resistance sits around $5.50, while longer-term projections point to $19, $63, and even $215 if the pattern fully develops over the coming years. These are ambitious targets that would require sustained buying pressure and favorable market conditions.
ETF Applications and Market Catalysts
Beyond technical factors, XRP’s trajectory faces significant catalysts in the regulatory space. The SEC is currently reviewing multiple spot XRP ETF applications, with key decisions expected between October 18 and November 14. Grayscale’s application specifically comes up for review on October 18.
Market sentiment appears optimistic about approval prospects, with some analysts placing the odds above 99%. If approved, these ETFs could potentially unlock substantial institutional capital flows into XRP. Some projections suggest prices could reach $20 to $30 by 2026 if institutional adoption materializes as expected.
Current Market Position and Technical Indicators
At the time of writing, XRP trades around $2.94, showing nearly 4% gains over the past 24 hours and over 2% for the week. The technical picture shows the 50-day simple moving average sitting just above current prices at $2.96, indicating potential short-term resistance.
The 200-day moving average provides stronger support at $2.50, with current prices trading about 14% above this level. The 14-day RSI reading of 47.16 suggests neutral momentum, which could indicate room for accumulation before any significant price movement.
While the technical setup appears favorable, it’s worth remembering that cryptocurrency markets remain highly volatile. Past cycles have shown that strong rallies often invite profit-taking and increased volatility. The coming weeks will be crucial for determining whether XRP can maintain its breakout momentum or if resistance levels will prove too strong.