Price has been stuck below $3 for weeks, and September produced no clear upward momentum, leaving traders on edge as regulators and markets add to uncertainty.
Short-term charts show XRP compressing after a slide that began in July when the token crossed $3.60. Based on reports, Gordon’s shared chart points to prices tightening toward a breakout point.
Compression like this stores volatility. It does not promise an uptrend, but when a move comes it can be abrupt. Some traders see that as an opportunity; others see a risk of chasing a quick spike.
https://twitter.com/AltcoinGordon/status/1972605715543151012?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank
Reports have disclosed that research groups, including Sistine Research, say this is the third major compression since the last US election cycle.
Past compressions have been followed by big moves. In late 2024, XRP rose from $0.50 to above $3.40 within weeks — a rapid jump that surprised many.
Analysts now point to a range of possible outcomes, with targets that span from $8 to as much as $33 on extreme scenarios based on extensions and past cycle math. Those top-end figures are outliers and should be treated with caution.
On-Chain Flows
On-chain data from Santiment shows large wallets holding between 10 million and 100 million XRP added over $300 million in three days.
Those wallets now hold close to 8 billion XRP, levels last seen in August before earlier rallies. Such accumulation can be bullish, though it can also set up fast squeezes that benefit early sellers.
Momentum, ETFs And Market Sentiment
Meanwhile, market chatter has been shaped by hopes around potential XRP-based ETFs, with a key US decision expected in October. If approvals arrive, funds could flow in quickly.
If regulators delay or deny listings, sentiment could reverse. At the same time, broader crypto strength in Bitcoin and Ethereum has helped lift appetite for large-cap altcoins, and derivatives data shows rising futures volume and open interest around XRP.
XRP Price Action
XRP climbed to $2.94 today, up 3.30% as ETF hopes and technical setups drew attention. The $3.00 mark has become a near-term psychological target for some traders.
Whatever happens next, the market looks set for higher volatility. Investors will need both timing and discipline to navigate whichever direction the next move takes.
Featured image from Meta, chart from TradingView
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Author: coinmaker
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