Key Takeaways
- XRP tested the $2.40–$2.42 support zone, holding the line after a volatile 6% intra-day swing.
- Sellers capped upward moves near $2.53, forming a resistance ceiling.
- If bulls regain strength, a push toward $2.65 may follow.
- A drop below $2.40 could open targets near $2.33 or $2.25.
- Rising volume and signs of institutional accumulation support a base formation.
Market Background
XRP fell sharply during the October 14–15 session as broad crypto deleveraging and macro pressures pushed open interest down by 50%. However, spot trading volume jumped about 40%, hinting that institutions may be stepping back in to accumulate.
Adding confidence to market sentiment, Ripple announced a partnership with Immunefi to conduct a security test of the XRP Ledger from October 27 through November 24.
Price Action & Technical Signals
- XRP dropped from ~$2.54 to ~$2.49, swinging between $2.55 and $2.39, registering nearly 6% volatility.
- Buyers repeatedly defended the $2.40–$2.42 area, rejecting deeper declines.
- Trading volume spiked, reaching ~179.4 million, nearly double the 24h average — a sign that buyers may be stepping in at support.
- Attempts to rally stalled around $2.53, where consistent selling pressure appears.
- By session close, XRP recovered slightly toward $2.50, stabilized by dip-buying activity.
In technical terms, $2.40–$2.42 now acts as a pivot for bullish momentum. A sustained break above $2.53 could re-energize the uptrend, targeting the $2.65 breakout zone. Conversely, losing the $2.40 floor would expose downside to $2.33 or $2.25.
What Traders Are Watching
- Whether $2.40 support holds through the Asia trading session
- Signs of re-leveraging after open interest collapsed
- A volume breakout above $2.50, confirming renewed buying
- Macro developments—especially Fed policy or trade tensions—that could stoke volatility
