Ripple (XRP) Price Moves Toward $3 as Community Speculates Oct 18 ETF Approvals

Ripple (XRP) increased by 3 % on Sunday, September 7, as it appeared as the second best performance during the day between the 10 best cryptocurrencies behind Dogecoin (Doge), which wore 4 %. Community discussions over the past 24 hours indicate that both assets have benefited from increased speculation about the suspended ETF Cryptocurrency with a CEC approach to a critical decision window on October 18.

Echoing many other active influencers in the Ripple Army Online community, the analyst alphatrades published a picture showing the main deadline dates on XRP ETF files by seven asset managers, all of which are expected in seven days between October 18 and October 25.

On Sunday, XRP trading measures reflect that 3 % high prices were mainly driven by high -level speculative demand. As we saw in the CoinmarketCap chart, the price of XRP 3 % was collected on Sunday, accompanied by a decrease of 10.3 % in the 24 -hour trading volume. Such a large increase in prices during the decrease in immediate market activity signals that the main catalyst lies among traders who speculate on future events.

This confirms that Coinglass derivatives “, XRP trading data, shows a 17 % increased trading volume with open interest, which follows the value of new XRP futures positions that have been created over the past 24 hours by 3 %, as it is in line with the increase in the price of the daily XRP timeline.

If the increasing speculation demand continues with the approach of the European Union’s final dates, the best altcoins like XRP, with seven active files in the review, can continue to outperform the opposite winds of the immediate market as shown in the Sunday trade.

Technical expectations for XRP show that prices are less than $ 2.88 after raising 3 % through the day. Bollinger Bands narrowing about $ 2.70 and resisting $ 3.07, indicating pressure pressure before collapse.

The XRP route will see the XRP break above $ 3.07, with the support of improving the momentum of the relative strength index, now at 48.3 after a bouquet of sales levels. If the bulls are paid, the next upward goal sits at $ 3.20, with a long -term goal at $ 3.45 in the event of intensification of ETF speculation.

The decline indicates that immediate trading activity as a risk factor. With excessive bull traders exposed to excessively, the negative macro stimuli can raise an enormous liquidation, which may pull the price of XRP towards the last local support at the support of $ 2.70. The collapse below this level risk a more severe decline of about $ 2.50, which led to the retreat of recent gains.

With RSI showing the mid -level and immediate demand that supports height, XRP is likely to turn to less than $ 3, until fresh stimuli appear. However, the status of high financial lever during the weekend confirms the possible sharp moves in either directions this week.