XRP has entered a pivotal week for its October outlook, with four major dates lined up during the first week of the month. The events begin with XRP Seoul hosting banks and Ripple on October 3rd, followed by the expected completion of the Evernorth deal on October 7th. A day later, XRPN is expected to begin trading on Nasdaq. The sequence concludes with the XRPL Batch amendment (XLS-56) on October 9th.
The XLS-56 amendment already holds support from more than 85% of validators. The upgrade would enable the ledger to settle up to eight transactions atomically. With the XRP Ledger averaging over 200 million transactions per quarter, this development is expected to boost network capacity during the fourth quarter.
Concurrently, institutional adoption is expanding as Evernorth prepares to take its XRP treasury company, XRPN, public on Nasdaq with approximately 473 million XRP on its balance sheet. Pre-merger shares have climbed by 81%.
Trader positioning reflects these developments, with top traders on Binance accumulating XRP long positions and skewing the long/short ratio in favor of buyers. On the technical side, XRP has consolidated around the $1.50 level for over four weeks. Liquidity data shows $18 million in bids versus $14 million in asks within a ±2% range across eight exchanges, giving buyers an edge as the asset approaches a key inflection point.
