XRP has formed a bull flag pattern on its daily chart, suggesting potential for a bullish breakout towards $5 if it can breach resistance at $3. The bull flag pattern indicates strong bullish momentum, with the daily candlestick needing to close above $3 to validate this upward move. Achieving this target would mean a 77% increase from its current level. However, there are hurdles at the 50-day SMA ($3.08), as well as higher resistance at $3.40. On the downside, key support lies between the 100-day SMA at $2.68 and the 200-day SMA at $2.48. As optimism grows over the US SEC's decision on spot XRP ETF applications, anticipated between Oct. 18 and Nov. 14, approval odds have risen to 87%. Industry analysts are increasingly confident about approval, which could unlock significant institutional investment and drive demand for XRP tokens, pushing the price potentially upward beyond the $5 mark. The market is now watching closely for the breakout confirmation at $3 and the need to maintain support around $2.73 to preserve the current bullish structure.

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