XRP Starts October With Bullish Signals and Institutional Interest
XRP (XRP) has entered October with a mix of volatility and bullish indicators. Exchange reserves are declining, particularly on Binance and Upbit, where Binance’s XRP balance dropped from 2.704 billion to 2.631 billion between September 26 and October 4. Upbit lost 31.6 million XRP between September 11 and October 5. Whale-sized transfers have dominated these outflows, with Binance seeing an 84.2% whale outflow dominance on September 29.
Santiment data reveals that addresses holding 10 million to 100 million XRP increased their holdings from 12.48 billion on September 6 to 13.8 billion on October 6, with most of the increase occurring around September 24. Despite this accumulation, social media sentiment for XRP has turned bearish, with Santiment’s bullish-to-bearish ratio falling to 0.67, its lowest since August 17. The firm noted that heavy pessimism could set up a contrarian rebound, though it offers no guarantee.
Institutional interest in XRP remains strong. XRP exchange-traded funds (ETFs) have recorded net inflows for 12 consecutive weeks, according to SoSoValue data. While the pace slowed last week, XRP funds added $4.74 million, compared to $75.6 million the previous week. Additionally, Ripple-backed Evernorth is set to close its merger with Armada Acquisition Corp. II on October 7, creating the largest publicly traded XRP treasury with approximately 473 million XRP. Armada’s shares, listed under XRPN, surged 142.02% over five days, closing at $38.65 on Monday.
XRP is currently trading at $1.51, down 1.36% on the day. The token has seen a 43% gain over the past quarter, closing July, August, and September higher. Leverage has lagged this rally, with XRP open interest on Binance standing at $516.6 million, far below October 2025’s $1.3 billion. Analysts suggest a four-hour close above $1.53 could open a move toward $1.62. Upcoming catalysts include Evernorth’s debut, Ripple’s Swell conference, and the Federal Reserve’s meeting on October 27-28.