Bullish Engulfing Candle Could Push XRP to $7.30 as October Becomes ETF Catalyst Month

Weekly Bullish Engulfing Could Spark a $7.30 Rally According to renowned market analyst EGRAG CRYPTO, XRP may be approaching a critical turning ￰0￱ analyst suggests that the next time XRP forms a bullish engulfing candle on the weekly chart, the token could surge to new all-time highs, potentially reaching around $7.30. Such a move would represent one of XRP’s most significant price rallies in years, fueled by technical strength and renewed investor optimism. A bullish engulfing candle is a well-known pattern in technical analysis, signaling strong momentum when buyers fully eclipse prior selling ￰1￱ XRP, which has long traded in a range amid regulatory battles and market uncertainty, the confirmation of this signal on a weekly timeframe could mark the start of a major ￰2￱ realized, the $7.30 level would surpass XRP’s historical peak of around $3.65, cementing a new milestone for the digital asset.

However, EGRAG CRYPTO also cautions that risks remain if Bitcoin, the broader market’s anchor, experiences further downside ￰3￱ BTC decline significantly, XRP may fail to sustain bullish momentum, with critical support levels at $2.60 and, in a deeper correction, $2.37. These zones, according to the analyst, represent essential lines of defense for XRP holders and could determine whether the asset consolidates before another attempt at upward movement or slips into a prolonged ￰4￱ the time of this writing, XRP was trading at $2.79, according to CoinGecko ￰5￱ Showdown: Seven XRP Spot ETF Filings Poised to Reshape Crypto Investing According to crypto pundit John Squire, October could mark a watershed moment for XRP and the broader digital asset market as multiple financial heavyweights line up their XRP Spot ETF ￰6￱ approved, these products would open the door for mainstream investors to gain direct exposure to XRP through traditional stock exchanges, potentially ushering in new levels of liquidity and legitimacy.

October’s XRP ETF calendar is stacked as Grayscale kicks off on the 18th, followed by 21Shares (19th), Bitwise (20th), Canary Capital (23rd), WisdomTree (24th), and dual filings from Franklin Templeton and CoinShares on the 25th, according to ￰7￱ tight clustering underscores surging institutional confidence in XRP and intensifying competition to seize first-mover ￰8￱ futures-based products, spot ETFs hold XRP directly rather than derivatives, offering investors lower costs, tighter price tracking, and stronger integration with traditional ￰9￱ XRP, multiple ETF approvals could unlock significant new demand, drawing in institutions and retail investors who prefer regulated, accessible investment ￰10￱ a result, Squire stresses that October won’t hinge on just one approval, it could be the month that cements XRP as a mainstream ￰11￱ With October approaching,even one ETF approval could ignite momentum, but multiple greenlights may solidify XRP as a core asset in traditional portfolios.

XRP’s next move depends on technical signals and Bitcoin’s market sway. A confirmed bullish engulfing candle could propel prices to $7.30, a historic ￰12￱ losing support at $2.60 and $2.37 would hand control back to sellers, postponing the rally.