XRP Holds Above $2.79 Fibonacci Support as Breakout Setup Strengthens, Here’s What Analysts Are W...

XRP holds above $2.79 Fibonacci support, signaling strong accumulation and bullish structural stability.

Futures open interest at $8.47B shows rising speculative activity ahead of key ETF decisions.

XRP’s consolidation nears completion, with technical alignment suggesting potential breakout toward $5.00.

XRP continues to trade within a tight range but maintains strong technical positioning, indicating a potential breakout ahead. The asset remains above crucial Fibonacci levels, showing market resilience amid investor caution. At the time of writing, XRP was trading at $2.80, holding firm despite reduced trading volumes.

Consolidation Near Key Support Zones

According to Casi Trades via X, XRP appears ready to break out as its consolidation phase nears completion. The token’s recent lows continue to hold above the macro 0.5 Fibonacci retracement level at $2.79, which has repeatedly acted as a strong support zone. Attempts to break below this level have failed, confirming steady buying interest at the base.

The chart structure shows that XRP has broken above its consolidation pattern, successfully retesting the breakout level as support. This retest aligns with the 0.618–0.65 golden retracement levels, reinforcing technical strength. From an Elliott Wave perspective, this movement may represent a developing subwave before a larger upward wave begins.

Source: ChartNerd(X)

Historical data indicate that XRP concentrated seven years before rising from $0.50 to a high of $3.66, implying that long accumulations are usually followed by long uptrends. According to analysis prepared by ChartNerd, XRP maintains support around $2.60, and staying above the 55-week EMA near $2.20 could sustain the structure toward the $5.00 region in a broader bull flag formation.

Market Conditions and Upcoming ETF Window

Data from CoinGlass shows a mixed market picture. On October 9, XRP achieved a net outflow of $9.47 million, and this trend of lower exposure between investors has been experienced by the company since mid-July. However, futures open interest climbed to $8.47 billion, signaling rising speculative engagement despite softer spot activity.

The upcoming October 18–25 window for U.S. regulatory decisions on multiple XRP ETF applications by issuers such as Grayscale, Bitwise, and WisdomTree could influence the next market direction. A favorable decision may attract new institutional inflows similar to Bitcoin’s ETF response.

While short-term trading shows reduced volume, the broader technical structure remains intact. The sustained defense of the $2.79–$2.81 support area and growing futures interest indicate that XRP could soon transition from consolidation to a new impulsive phase if bullish momentum continues.

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