XRP Surges 9% as 'Uptober' Narrative Revives Hopes for Strong October
XRP has rebounded by nearly 9% to $1.54 on September 21, marking a significant recovery from its recent sluggish trading.
This sharp upswing was accompanied by renewed capital flow into the crypto sector, with US-listed spot crypto ETFs seeing net inflows exceeding $1.9 billion in one day, according to SoSoValue data.
Traders are now watching to see if XRP can sustain its recovery and break through established resistance levels, which have repeatedly capped recovery attempts since the August peak.
Technical analysts point out that a long-term descending resistance line from 2018 intersects with an ascending support line from 2020, creating a large converging structure. According to Peter Brandt, this could be a major target for XRP, with a potential price of $5.40 representing gains of approximately 260% from its current level.
The token's ability to maintain price action above $1.50 will be closely monitored as traders assess the likelihood of further advances in the fourth quarter.