XRP, 'Bullish Candle' for 3 Consecutive Months... Is the Bear Market Cycle Finally Breaking?

▲ XRP/AI-generated image

XRP is on the verge of closing its monthly candle bullish for the third consecutive month, reaching a watershed moment to break the prolonged bear market cycle.

According to U.Today, a cryptocurrency specialized media outlet, on September 29 (local time), XRP is smoothly sailing towards a rare three consecutive months of gains based on historical data. After a sharp 22.1% drop in June, XRP successfully rebounded by 2.11% in July, surged by 30% in August, and maintained an 8.67% increase in September, signaling that buying pressure has dominated the market.

Clear regulatory progress indicating its entry into institutional finance is strongly supporting this upward trend. With a new XRP spot ETF application submitted to the U.S. Securities and Exchange Commission (SEC), preparations to attract institutional investors have begun in earnest. This application designates Coinbase Custody as the custodian and sets an exceptionally low fee of 0.34%, receiving strong positive feedback from the market.

Technical chart analysis also clearly confirmed a large influx of orders and the defense of long-term support lines. XRP formed a solid bottom around $1.2646, where key moving averages were located last summer. A bullish divergence occurred in the Relative Strength Index (RSI), confirming a trend reversal with a clear buy signal.

However, the historically bearish trend observed in the October market is still considered a variable to be cautious of. Market analysts predict that if XRP decisively breaks through the short-term resistance level formed at $1.5411, it could enter a full-fledged upward trajectory with a target of $2.30, which was its high in 2025.

[Key Article Summary]

-XRP is signaling an escape from the bear market, on the verge of closing its monthly candle bullish for three consecutive months from July to September after a sharp drop in June.

-Expectations for institutional fund inflow have risen with a new XRP spot ETF application, with a fee level of 0.34%, submitted to the SEC.

-After confirming a bottom at $1.2646, a breakthrough of the $1.5411 resistance is expected to initiate attempts to reclaim the 2025 high of $2.30.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*