According to Woofun AI, XRP is displaying three notable bullish signals amid heightened market volatility in October: continuous outflows from exchange reserves, accelerated accumulation by whale investors, and sustained net inflows into spot ETFs.

This structural shift indicates that despite short-term price fluctuations, the underlying asset is concentrating into the hands of long-term holders, laying a foundation of tokens for future price movements.

Regarding exchange reserves and whale activity, analyst Amr Taha cited CryptoQuant data showing that from September 26 to October 4, the amount of XRP held on Binance declined from 2.704 billion tokens to 2.631 billion tokens.

Meanwhile, between September 11 and October 5, Upbit also saw an outflow of 31.6 million XRP. Together, these two exchanges reduced their holdings by approximately 104.7 million XRP tokens.

Notably, on September 29, the proportion of whale-level outflows on Binance reached as high as 84.2%, with retail investors accounting for only 15%, indicating that the supply side is contracting.

Data compiled by Woofun AI and statistics from Santiment revealed that the total number of addresses holding between 10 million and 100 million XRP stood at 12.48 billion on September 6 and rose to 13.8 billion by October 6, with most of the increase occurring during a concentrated accumulation around September 24.

This whale accumulation behavior resonates with the decline in exchange inventories, further reinforcing the logic that market selling pressure is easing.

On the institutional capital flow front, SoSoValue data shows that XRP-related ETFs have recorded net inflows for 12 consecutive weeks.

Since mid-July, Bitcoin (BTC) and Ethereum (ETH) related ETFs have seen weekly outflows, and Hyperliquid (HYPE) related ETFs have also experienced 4 outflow events. However, XRP ETFs attracted a net inflow of $4.74 million last week. Although this represents a slowdown from $75.6 million a week earlier, it still maintains positive accumulation.

At the same time, Ripple-backed Evernorth is expected to complete its merger with Armada Acquisition Corp. II on October 7, after which the combined company will list on the Nasdaq under the ticker XRPN.

Evernorth will hold approximately 473 million XRP, making it the largest publicly traded XRP asset pool, despite a 37% decline in value since the merger agreement was signed.

Armada shares had already risen ahead of the merger announcement, closing at $38.65 on Monday, a gain of 142.02% over 5 days.

In comparison, XRP itself is trading at $1.51, down 1.36% on the day, but its overall gains in July, August, and September exceeded 43%, indicating strong fundamental support.

Despite the strong price performance, leveraged trading has not followed suit.

The value of XRP open contracts on Binance stands at $516.6 million, far below the $1.3 billion level seen in October 2025, suggesting limited market speculation.

The latest analysis indicates that if XRP can close above $1.53 within 4 hours, it could potentially rise further to $1.62.

Key events this month include the Evernorth listing, Ripple's Swell conference, and the Federal Reserve meeting scheduled for October 27-28. These macro and industry catalysts may collectively determine XRP's next move.