3 Bullish Swings XRP Price May Face This October

Juhi Mirza
Ripple
Source – Crypto News Flash

Ripple (XRP) is currently on a global path to dominate major financial realms. The token is part of revolutionizing the cross-border payment domain and is exploring every possible move to reach the top of the market radar. With recent market liquidations, XRP had to draw a few of its steps back, retracing old support lines and signals. Now that the token is trading at $2.87, three new compelling developments have already started to shape the October markets. Will these 3 moves help XRP surge to new highs in the process?

Also Read: Crypto Market Down? These 3 Coins May Jump Higher Soon

Three Potential XRP Moves That Could Help the Asset Record New Highs

1. Fed Stance Triggering More Market Volatility

xrp coins with dollars
Source: Yahoo Finance

The US economic realm is currently experiencing the jitters of a dovish Fed stance. Fed Chair Jerome Powell has finally slashed the interest rate cuts, triggering a wave of economic events to overlap with each other. This development has resulted in the weakening of the US dollar, with credible investor outflows being parked in the cryptocurrency and the domains of gold and silver. With the US economy expecting more interest rate cuts by the end of the year, October could signal a new price high for the crypto domain in general, with XRP leading the charge when it comes to attracting new investor interest.

2. XRP as a Hedge Option

All XRP Holders About to Get Mega Rich
Source: Bitcoinist

The current financial overlaps triggered by the anticipation of a potential interest rate cut may compel investors to explore new hedge alternatives. With the US government favoring the domain of crypto with a sense of passion and dedication, investors are now keen to explore XRP as one of the capable hedge options to safeguard their money. At the same time, with the XRP ETF approval timeline inching closer, XRP price may soon emerge as the latest breakout asset, with investors lining up to explore the asset with new zest and zeal.

3. Crypto as a Crucial Retirement Plan

XRP RIpple US Dollar
Source: Barrons

The Trump administration is keenly exploring ways to embed crypto in the US retirement policies. With crypto’s potential inclusion in the 401(k) plan, chances are that the domain in general could see a surge in participation, with XRP as the breakout asset, in light of multiple XRP ETFs being in the queue for the asset to explore in the near future.

Also Read: Will XRP Fall Below $2?