by Coinstrooper Crypto Articles
Quick Take
  • XRP Price Prediction today hinges on asset manager Canary Capital’s XRP exchange-traded fund (ETF) verdict that’s set to drop on November 13.
  • By removing the delaying amendment, Canary Funds could see the XRP ETF launch in November if the fund could secure Nasdaq’s 8-A approval earlier.
  • Currently trading around $2.5127, XRP has retraced slightly after testing resistance near the order block zone around $2.80.
  • The chart displays a measured move projection with three distinct take-profit levels.

What Happened

In the early hours of October 31, Canary filed an updated S-1 registration statement for its proposed spot-XRP ETF, removing a delaying amendment that previously prevented the registration from going live.

By removing the delaying amendment, Canary Funds could see the XRP ETF launch in November if the fund could secure Nasdaq’s 8-A approval earlier.

Market Context

XRP Price Prediction today hinges on asset manager Canary Capital’s XRP exchange-traded fund (ETF) verdict that’s set to drop on November 13.

Crypto traders are now bracing for a massive price move on XRP as it’s at a critical juncture to either pump toward $3.0 or dump back to the $2.20 support level.

Market analyst ChartNerd revealed that XRP has broken out of a 7-year symmetrical triangle and has since been accumulating above the prior $3.84 all-time high (ATH) candle closes and the prior highs from 2021 for nearly 12 months.

The XRP/TetherUS perpetual contract chart shows price action has formed a classic falling wedge pattern, which recently broke out to the upside, signaling a potential trend reversal.

Currently trading around $2.5127, XRP has retraced slightly after testing resistance near the order block zone around $2.80.

The first target (TP1) sits at approximately $2.6668, the second (TP2) around $2.5127 (current price level), and the third (TP3) near $2.4281. These targets appear to be based on Fibonacci retracement levels derived from the recent swing high and low.

XRP Price Prediction: Falling Wedge Breakout Targets $2.80

If the price can hold above the $2.40 range and reclaim the $2.60 level with conviction, it would set up a retest of the order block resistance near $2.80, with extended targets potentially reaching back toward the $3.00 psychological level.

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Why It Matters

The RSI indicator at the bottom shows the momentum oscillator hovering in the mid-range zone, neither overbought nor oversold, suggesting room for movement in either direction

The yellow line appears to be crossing above the purple line, which could indicate building bullish momentum if sustained.

However, failure to hold current support could see XRP drift back toward the $2.30-$2.20 range before the bulls regain control.

Details

Traders Eye Critical Breakout Ahead of XRP ETF Verdict Drop In November

This means the bias currently favors the upside.

The chart displays a measured move projection with three distinct take-profit levels.

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