XRP Price to $3: Is Ongoing Rally a Fakeout or Breakout?

XRP, the Ripple-backed coin, is inching closer to the $3 mark. The XRP chart pattern shows an interesting trend, raising sentiments about a potential price breakout.

Still, some market participants claim the ongoing rally is likely a fakeout. This price analysis comes amid the announcement of Ripple CTO David Schwartz’s resignation.

XRP Price Outlook and October Start

XRP is currently positioned at a point where technicals and macro catalysts converge. The Ripple-backed coin has recovered from its September lows of around $2.80.

At the time of press, the XRP price was trading at $2.93, representing a 2.9% increase from the previous day. Over the past month, the price of XRP has surged more than 6%.

Investors also increased their activities, as indicated by the surge in trading volume. This key metric increased by 26.9% to $6.37 billion.

The ongoing upward push aligns with a broader market improvement as traders await more “Uptober” boost. In the cryptocurrency market, October is generally perceived as a bullish month, during which cryptocurrencies tend to exhibit uptrends.

Analyst known as Steph is Crypto on X, anticipates the XRP crypto price to hit new highs in October. He based his forecast on the bullish trend in the October crypto market.

Despite the optimistic predictions and recovery from the September low, XRP still shows signs of weakness.

The coin is facing a key resistance at the 26-day EMA. If there is no clear break above this level, the recent XRP rally risks ending abruptly.

Reaction to Ripple CTO Exit

Beyond the XRP price analysis, other developments within the Ripple ecosystem are gaining attention. One of the latest updates is the resignation of Ripple Chief Technology Officer (CTO) David Schwartz.

Schwartz is resigning from Ripple after his thirteen-year stay at the firm. In an X post, Schwartz expressed gratitude to Ripple’s leaders, employees, RippleX team, builders, and the entire XRPL community.

Schwartz will officially step back from his daily duties as Ripple CTO at the end of this year. The CTO said he looks forward to spending more time with the kids and grandkids. He also plans to go back to the hobbies he set aside.

However, Schwartz confirmed he is not leaving the XRP community. Schwartz also revealed that he has accepted to join Ripple’s Board of Directors to continue supporting the company.

Responding to the post, Ripple CEO Brad Garlinghouse celebrated Schwartz as a true OG in crypto. He thanked David for his contribution to the industry, Ripple, and the XRP Ledger.

“We are all forever grateful… and in awe of your immense impact,” Garlingouse wrote.

Will XRP Price Hit ATH in October/Q4?

Despite the CTO’s resignation announcement, XRP community members remain bullish about the future price movement. They are hopeful that XRP will hit a new all-time high (ATH) in October and the fourth quarter (Q4) 2025.

Market analyst Dark Defender on X celebrated XRP price hitting $2.95. The analyst noted the price is a great start towards hitting new highs this October.

His comments align with predictions for crypto analyst Ali Martinez, who has hinted at prices between $3 and $3.15.

However, analyst ERGRAG CRYPTO anticipates a possible short-term dip to $2.30–$2.40 as a healthier correction before a stronger upward move.

Meanwhile, crypto bulls cited the possible approval of XRP exchange-traded funds (ETFs) as a key factor in igniting the October price surge.

The U.S. Securities and Exchange Commission (SEC) is expected to give approval decisions on five XRP ETF issuers in October. The issuers are Grayscale, 21Shares, Bitwise, Canary Capital, and WisdomTree.