Morning Crypto Report: XRP Tests $3 as Ripple CTO Resigns, Bitcoin Meets 'Uptober,' Ethereum Hits Record Q3, But What's Next?

The new quarter opens with crypto traders watching three major stories: the Ripple CTO’s resignation putting XRP in the spotlight, Bitcoin starting "Uptober" after a solid September and Ethereum coming off its strongest third quarter on record.

Bitcoin ends September up 5.3%, eyes "Uptober" gains

Bitcoin ended September with a 5.3% monthly gain, bringing its Q3 increase to 6.4%. Traders are calling October "Uptober" because the coin usually does well there, with mostly positive results in past years. ETF demand is adding extra fuel: Bitcoin products pulled in $3.5 billion in September, with $430 million yesterday alone, making last week's $902 million outflows a forgotten story.

Right now, BTC sits at over $115,000, and everyone is keeping their eyes on $117,000 as the next big target. Funding rates are going up, which shows that leverage is building up, but it is always risky to have too many longs. Market pros watch open interest and CVD to see if the rally will continue or get squeezed. Momentum and sentiment are good, and Bitcoin starts Q4 in a pretty strong position.

Ethereum records best Q3 in history

Ethereum also had a great quarter, with a record 66.5% gain in Q3 — the best third quarter in its history. ETH ETFs raked in a cool $285.7 million in September, with a whopping $127.5 million coming in on the last day alone. That demand helped ETH climb back above $4,200 after dipping near $3,900 last week.

The price structure is now based on the $4,200 support level. If it holds above there, it could go as high as $4,350-4,400. ETH's strong quarter also keeps it in the spotlight as a lead indicator for other majors. While Bitcoin is called "Uptober," Ethereum's momentum might be what sets the tone for altcoins in the early weeks of Q4.

Chart in focus: XRP price eyes $3 breakout

XRP is the chart in focus today, as traders are watching to see if the token can finally break through the $3 price point. The level has become a psychological barrier recently, and every time a reclamation attempt has been made, there has been heavy selling.

At this very moment, XRP is trading at $2.906, which is almost 2% higher than it was just 24 hours ago. Support around $2.85 is holding strong, and the $3.11 zone is still the ceiling for the short-term range. If it breaks above $2.92, it will probably go for another run at $3.11, and if it clears that, there will be space for a move into the $3.30s.

The only drawback is that losing $2.83-$2.85 could send the token back toward $2.70. That resilience is being tested by headlines from inside Ripple. Just as XRP tries to reclaim $3, the company’s chief technologist and one of its most visible figures, David Schwartz, announced that he will step down at the end of the year.

Figure of the day: Ripple CTO David Schwartz steps down

Ripple's longtime CTO, David Schwartz, is leaving his day-to-day role at the end of 2025 after 13 years at the company, according to a farewell message he shared. Schwartz has been CTO since 2018, helping Ripple reach key milestones in product development, legal challenges and XRP Ledger growth. 

In his note, he said that he was taking time for his family and himself, and that is why he is leaving. He is not going to leave completely, though, as Schwartz will join Ripple's board and continue as CTO Emeritus. 

Brad Garlinghouse, the CEO, called him "a legend," and Monica Long, the president, praised his role in building Ripple's culture and community. For XRP holders, this news may be a bit of a letdown, but it is not a huge shock. His continued presence gives the company stability even as leadership changes.

Outlook for the evening

Now, everyone is watching to see how the market will react to the U.S. session. Bitcoin is trading around $115,800, and the $116,755-$117,290 range is still the key level to clear. Until that zone is broken, the move looks more like a range than a breakout, and there is still a chance we could see another pullback. The bad news is that $112,000 is the lowest price that bulls need to defend to keep confidence intact.

Ethereum is sitting at around $4,282, with $4,200 being the key number. If it stays above that level, ETH can go up to around $4,350-$4,400. But if it dips under $4,171, it will be a bit of a bummer after the strong Q3. Traders see this as important because ETH has been a lead indicator for altcoin flows, and its resilience could help carry momentum into October.

In the altcoin space, Zcash (ZEC) is up 35% in a day and 126% over the month, putting privacy tokens back in the spotlight. Pump.fun (PUMP) is up 23% today and 85% in a month. Aptos (APT) and Hyperliquid (HYPE) are also doing well.