Saad Ullah
XRP has hit a crucial point that has traders holding their breath. The token is testing the bottom edge of a long-running descending channel, and with major ETF decisions expected between October 18 and October 25, things could get wild fast.
What the Charts Are Saying
Analyst DustyBC Crypto suggests the correction might be done, which could mean XRP is ready to climb. The 8-hour chart shows XRP appears to have finished its corrective Wave (E), bouncing right off the channel's lower edge. The updated trendline confirms the descending pattern is still in play, which means the structure hasn't broken down yet. Right now, XRP is trading around $2.28, sitting at support that could either hold or crack under pressure.
If buyers show up with force, we're looking at a safer entry above $3.18, with potential moves toward $3.34, $3.50, and $3.75 where major resistance sits. But until price clears that zone, caution is the name of the game.
The ETF Wild Card
Charts only tell half the story. The real catalyst here is regulatory. If an XRP ETF gets the green light, institutional money could flood in, bringing legitimacy and liquidity. That's the kind of fuel that breaks downtrends. But if the decision gets delayed or rejected, XRP could easily slide back toward $2.10 or lower, extending the bearish phase.
Saad Ullah
