• XRP approaches key resistance as analysts predict a potential breakout above $3.65, echoing its 2017 bull run setup.
• ETF anticipation builds, with seven spot XRP ETF filings nearing their first deadlines on October 18, sparking investor optimism.
• Analysts foresee institutional demand and improving regulatory clarity as catalysts for XRP’s next major bullish phase.

XRP is gaining significant market interest due to growing speculation about some spot ETF filings and positive technical crossovers. Analysts are pointing towards the current configuration resembling XRP’s historical 2017 bull run and foreseeing a possible big move in the future. Analysts think a breakout can seal the onset of the next bull run for the token.

At the time of writing, XRP is trading at $2.42, with a 24-hour trading volume of $7.77 billion and a market capitalization of $144.72 billion. The XRP price decreased by 2.95% in the last 24 hours, and momentum in the community continues to grow as investors watch for a potential breakout.

XRP ETF Filings Near Approval Deadline

A well-known crypto analyst, STEPH IS CRYPTO, revealed that there are seven outstanding spot XRP ETF filings in total, with the first deadlines coming due October 18. The news has caused quite a buzz throughout the market since ETF approvals can be a big move in the direction of wider institutional XRP adoption.

The potential for a U.S.-listed XRP ETF was always considered one such key catalyst instrument that could cause large capital inflows in the asset.

Also Read | XRP Technicals Hint at a Parabolic Wave if $2.30 Support Holds Strong

XRP Eyes Breakout Above Key Resistance

Meanwhile, the popular analyst CRYPTOWZRD also pointed to the 2017 bull run, where the coin registered an explosive pump. He noted that XRP had retested its all-time high demand zone from 2021, suggesting that sellers are no longer in the market. According to his analysis, a confirmed breakout above $3.65 should ignite positive momentum for the token.

Market sentiment says that XRP could be entering its determining phase. With the technicals in strength and ETF demand providing the optimism, specialists think the key rally for XRP can still be in the future.

With the regulatory clarity getting better and institutional demand increasing, XRP’s journey along its route to its next substantial price action could very well be in progress.

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