As most of the Coindesk 20 index suffered losses, XRP reached new levels.

In what has been an interesting month, the index ended September with a historic drop. According to data from CoinDesk Indices, most indices were riding a wave of bearish sentiment.

The CoinDesk 20 Index is a chart that monitors the price performance of the biggest gainers and losers in the cryptocurrency market. The chart is divided into two groups: Laggards and Leaders, showing the price action of 20 crypto assets.

XRP outperformed, index down $0.65. The chart shows that Ripple's native token XRP achieved a breakout rebound, restoring investor confidence. XRP resisted the recent bearish momentum and traded above $0.65, ending the month with a weekly gain of 6%.

XRP reclaimed key levels, surging 7.6% and trading volume exceeding $2.24 billion, according to CoinDesk Indices data. XRP then saw an explosive rise before falling sharply from $0.64 to $0.63.

On Tuesday morning, XRP fell below $0.62, down 3% in a day.

This dramatic turn of events was accompanied by a 23% drop in XRP trading volume, clear evidence of increased selling pressure.

Then, UNI, the 22nd largest cryptocurrency by market cap, staged a major rally, reaching key resistance at $7.49, up 2.2% in the past 24 hours. CoinDesk index shows that UNI maintained a 0.06% gain and a 77% increase in trading volume. UNI's strong upward momentum pushed trading volume to $178 million.

The coin seems to have maintained its bullish momentum, hitting a two-day peak. The chart shows that UNI and XRP are rising while the rest of the coins are falling.

The index fell sharply. The CoinDesk 20 token (CD20) was trading at $2,067.77, down 1.9% in a day. The token maintained its sluggish momentum over the weekend, losing 40% of its value since Friday, September 27. The biggest losers in the CoinDesk index were Internet Computer (ICP) and Filecoin (FIL), which fell nearly 6% in a day.

The sharp declines in most assets demonstrate the unpredictable nature of crypto assets. Other assets, including Aptos (APT) and Polygon (MATIC), fell 5.5% each. As the laggards fell in value, crypto giant Bitcoin performed well in late September, surging 9%.

BTC has breached the $64,000 resistance level, restoring optimism among investors that October will be a favorable month for cryptocurrencies.

Ethereum fell below $63,000 on Tuesday, as trading volume surged by nearly 75%. At the same time, Ethereum established an upward trajectory, gaining 0.48% on the day.

ETH has been hovering between $2,630 and $2,639 over the past 24 hours, signaling an impending breakout rally. Its trading volume surged 28% to $17 billion, driven by bullish investor sentiment. Experts predict that Bitcoin and Ethereum will enter a bullish period this month.

Despite BTC experiencing its two worst Octobers since 2013, analysts still predict that Bitcoin will reach $70,000. They believe that the US election and changes in global monetary policy will ignite BTC's bullish momentum. Analysts remain optimistic that BTC bulls will become active this month.

Will October be the best month for cryptocurrencies? In a post on X, Augustine Fan, head of insights at SOFA, expressed his optimism about cryptocurrency prices in the fourth quarter. The analyst believes that the high correlation between cryptocurrencies and macro assets such as SPX indicates that the macro environment will be favorable for cryptocurrency prices to rise in the remaining months.

The article is for reference only and does not constitute investment advice.