Ethereum

bullish

Bitcoin

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">September is ending today, with many analysts previewing digital currencies' past and future performances, like XRP's. Unlike August, XRP ended September on a very bullish note. Data from Cryptorank&nbsp;<a href="https://cryptorank.io/price/ripple/analytics">shows</a> that the coin is up by more than 12% at the time of writing, defying the generally historical bearish drawdown for the month. With this growth, the question remains whether or not XRP can pull off this stunt again in October.</p>
<h2 id="uptober-effect-might-stun-xrp-bulls">Uptober effect might stun XRP bulls</h2>
<p dir="ltr">In the digital currency ecosystem, October is generally considered a positive month for crypto assets. From Bitcoin (BTC) to Ethereum (ETH) and other altcoins, the month is deemed one that can help usher in a more bullish November.</p>
<p dir="ltr">Per Cryptorank data, XRP does not naturally grow bullish in October. Since 2013, it has closed the month in the red five times, with upticks recorded five times as well. Overall, the average growth rate of XRP for the month over the past 10 years is down 3.49%.</p>
<p dir="ltr">If XRP repeats its September performance, it might eventually breach its $0.70 price mark in the coming month. On the other hand, if it fails to keep up its current momentum, its negative retracement might stun its&nbsp;<a href="https://u.today/xrp-at-100-community-goes-crazy-in-x-poll">expectant bulls</a>.</p>
<h2 id="one-major-catalyst-to-watch">One major catalyst to watch</h2>
<p dir="ltr">Many digital currencies could jump on the bandwagon and record impressive growth in the coming weeks; however, many will rely on their ecosystem trends to anchor their growth.</p>
<p dir="ltr">The ongoing evolution of the&nbsp;<a href="https://u.today/xrp-ledger-ships-2-major-updates-ahead-of-rlusd-launch">XRP Ledger</a> ecosystem may serve as a major catalyst for XRP. Ripple Labs Inc. is currently in the late stages of its&nbsp;<a href="https://u.today/ripple-performs-massive-350000-rlusd-stablecoin-mint-in-24-hours">RLUSD stablecoin testing</a> on XRPL.&nbsp;</p>
<p dir="ltr">While the exact operational model remains unknown, the RLUSD is bound to complement the role of XRP in XRP Ledger. This will ultimately boost XRP liquidity, enhance market sentiment and drive the acquisition of the coin in the coming weeks.</p>
<p dir="ltr">If Ripple launches the stablecoin in October, the trajectory for XRP might change overall.</p>

XRP's Fate in 'Uptober' Might Stun Crypto Market Bulls

Table of Contents

U_Today

Other articles published on Sep 30, 2024

Taiwan Eases Crypto Investment Rules for Professional Investors

Degen Trump (DEGTRUMP) Will Explode 19,000% Before Exchange Listings, While Shiba Inu and Dogecoi...

Crypto Inflows Surge in the United States

Hippo Wallet Integrates Arbitrum, Polygon, and Fantom Networks: Expanding the Horizon of Blockcha...

Bitcoin maximalist paradox: BTC adoption threatening founding principles

Analyst Shows Multi-year “Monumental Breakthrough” That Could Send XRP to $36

Join our free newsletter for daily crypto updates!