XRP rose 1.65% to USD 1.52 over 24 hours on Oct. 5, moving alongside Bitcoin as the broader cryptocurrency market advanced. Meanwhile, trader Peter Brandt shared a daily chart showing a possible cup-and-handle formation. XRP remained below nearby resistance, with potential XRP Ledger amendment activations scheduled for Oct. 8–9.
Bitcoin gained 1.43% over the same period, while total cryptocurrency market capitalization increased 1.26%. XRP’s similar advance was consistent with the broader recovery. The available figures did not establish a separate XRP event as the cause of its daily gain.
XRP’s 24-hour trading volume increased 74.98%. Higher turnover accompanied the price rise, although volume alone does not establish whether buyers will sustain the advance. The token traded above its seven-day simple moving average at USD 1.49 and its 30-day average at USD 1.44.
The relative strength index stood at 58.97, below the commonly used overbought threshold of 70. The reading showed stronger recent gains than losses without reaching overbought territory. Immediate resistance remained around USD 1.52–1.55, while the market analysis identified USD 1.45 as nearby support.
A daily close above resistance would mark a move beyond the recent trading range. Conversely, a fall below USD 1.45 would put the lower support area back in focus. The 50-day exponential moving average stood near USD 1.38, below the current consolidation.
Peter Brandt shared an XRP chart showing a rounded recovery followed by a smaller pullback. The formation resembles a 'cup-and-handle,' a chart pattern that requires a breakout above its upper boundary before traders can treat it as confirmed.
The chart showed XRP near USD 1.5230, slightly above a displayed simple moving average of USD 1.4978. Its Sept. 23 high of USD 1.6572 formed the upper boundary. XRP would need to rise approximately 8.8% from the chart price to reach that level.
The earlier decline took XRP toward approximately USD 1.25–1.30 before its recovery to the September high. The subsequent pullback stayed mostly around USD 1.45–1.55. This smaller retreat formed the possible handle, although XRP had not cleared the September peak.
Using an approximate USD 1.26 low and the USD 1.6572 upper boundary produces a measured projection near USD 2.05.
PermissionDelegationV1_1 and BatchV1_1 have potential activation dates of Oct. 8 and Oct. 9, respectively. Permission delegation concerns authorized transaction actions, while batch processing concerns grouped transactions. The dates remain conditional on continued validator support through the required approval period.
Separately, Doppler Finance’s reported partnership with Flare concerns future access to yield vaults for XRP holders. The planned service adds another ecosystem development, but the available information does not establish that it caused XRP’s latest price increase.
ALSO READ: XRP Price Holds Near USD 1.50 as Doppler Plans Flare Vault Access
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