Daily Crypto Signals: Bitcoin Holds $123K, XRP Eyes Rebound Amid ETF Speculation
Bitcoin stabilized above $120,000 following a sharp correction from its all-time high near $126,000, with data showing the strongest buying
Quick overview
- Bitcoin stabilized above $120,000 after a correction from its all-time high, driven by strong institutional buying and liquidity inflows.
- XRP retreated below $3 but significant whale accumulation and upcoming ETF decisions could lead to a potential rally of 60-85%.
- North Dakota plans to launch a state-backed stablecoin in 2026, making it the second US state to do so after Wyoming.
- Recent trading activity in the memecoin market has seen traders making substantial profits, indicating renewed interest in high-risk investments.
Bitcoin BTC/USD stabilized above $120,000 following a sharp correction from its all-time high near $126,000, with data showing the strongest buying momentum since July driven by institutional participation and genuine liquidity inflows. Meanwhile, XRP XRP/USD retreated below $3 but analysts point to substantial whale accumulation of $1.1 billion and pending ETF decisions in October as catalysts for a potential 60-85% rally.
Crypto Market Developments
This week, the crypto market was very busy since more institutions started using it and new rules were put in place. North Dakota said it would launch the Roughrider Coin, a state-backed stablecoin created with the help of payments firm Fiserv. This makes North Dakota the second US state to launch a stablecoin, after Wyoming’s Frontier Stable Token. The currency will be available to banks and credit unions in 2026. It is meant to make it easier for banks to do business with each other, for merchants to get paid, and for money to move across borders.
As speculative money flowed into small-cap tokens, BNB Chain traders made incredible profits in the memecoin market. A trader named “0xd0a2” turned $3,500 into $7.9 million in three days, which is a 2,260-fold return. Another investor turned $360,000 into $5.5 million on the “4” memecoin when Binance co-founder Changpeng Zhao posted about it on social media. The trading frenzy showed that people are once again interested in high-risk, high-reward chances in the current market cycle.
Canary Capital’s Litecoin and HBAR exchange-traded funds looked like they were ready to be approved by regulators after making final changes to things like fee structures and ticker symbols. However, analysts said that debuts will probably be delayed since the US government shutdown is impacting the work of the Securities and Exchange Commission. The files were part of a surge of about 250 bitcoin ETF applications that wanted 3x leverage exposure.
When Will Bitcoin Cross $125,000 Again?
Bitcoin showed amazing strength this week, staying stable above $120,000 after being volatile at its all-time high of $126,000. Market data showed a big change in how trades work. The net taker volume, which compares sell and buy orders, went from a very bearish reading of negative $400 million to neutral levels. This adjustment showed that the purchasing and selling pressure in the market was really changing, which gave the market a better base for possible upward growth. Analysts compared this to Bitcoin’s April correction, which came before a 51% rise over 13 weeks. However, they warned that too much buying could mean the market is too hot.
Binance statistics backed up the story of continued institutional participation, revealing that net purchasing pressure was more than $500 million on several days since early October as Bitcoin rose from $117,000 to $124,000. The imbalance ratio hit 0.23, which means that buy orders were about 23% greater than sell orders. Daily trading volumes also reached their highest levels since July. These numbers showed that Bitcoin’s rise was based on “real liquidity” rather than short-term speculation. Onchain research showed that people were taking profits in a controlled way rather than selling in a panic. Holding above the $120,000-$121,000 level confirmed a healthy cooling phase that might lead to more institutional demand and the next leg up to $125,000.
XRP Ready to Break $3 Resistance
XRP had a hard time keeping its momentum over $3, and it fell to $2.84, losing support from its 50-period exponential moving average. But there are a lot of reasons to believe that the downturn won’t last long. October might be a very important month because the SEC is getting close to the final deadlines for 16 crypto ETF applications. Several spot XRP ETF filings are likely to come in between October 18 and October 25.
The SEC approved new generic listing standards in September 2025, and all 11 XRP ETF proposals have missed their listing standards deadlines. This makes it possible for all of them to be approved at the same time. These ETFs might bring in between $3 billion and $8 billion from institutions, which is similar to what happened with Bitcoin and Ether ETFs when they first came out. According to CoinShares, XRP investment products brought in $220 million last week, bringing the total for the year to $1.8 billion.
Despite retail sentiment turning bearish—with the bullish-to-bearish ratio falling below 1.0 for the first time in months—whale accumulation remained robust. Large holders added 55 million XRP worth nearly $1.1 billion over three days, with onchain data showing consistent positive net holder position changes since August.
Technical analysis showed that XRP is still in its highest weekly and monthly closing range since it broke through the 2017 highs. In late 2024, the asset broke through a seven-and-a-half-year descending channel against Bitcoin. Traders identified a bullish fractal pattern suggesting potential gains of 60% to 85% if XRP breaks decisively above $3.30, though analyst Peter Brandt warned that a daily close below $2.65 could confirm a descending triangle pattern and trigger a drop toward $2.22.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save