XRP maintains a narrow trading range following a turbulent phase, remaining above short-term support as investors assess renewed risk levels. Analysts caution that a deeper decline towards $1.55 is still possible before attempting a structural rise towards the $7–$27 range.
News Background
- The token stabilized during Thursday’s Asia–U.S. crossover, drifting between $2.34–$2.39 after a significant rally earlier in the week.
- The midday spike to $2.39 on October 18 saw a volume of 42.23 million—almost double the typical 24-hour volume—before settling back into a narrow band around $2.35.
- Market sentiment remains cautious as $19 billion in cross-crypto liquidations were triggered by rising trade tensions.
- Ripple’s proposed $1 billion funding initiative and the SEC’s ongoing assessment of six spot XRP ETF filings are influencing market positions. Institutional traders are reported to have reduced leverage and shifted towards cash collateral in preparation for policy announcements and macroeconomic events.
Price Action Summary
- XRP fluctuated within a compact 2% range throughout the October 18–19 session, establishing a bottom near $2.34. Bulls briefly tested the $2.39 resistance before sellers returned.
- Trading volume decreased in the latter part of the day—a typical sign of pre-break compression.
- During the final hour (07:10–08:09 UTC), XRP bounced from $2.34 to $2.35 on a turnover of 590K, implying the earlier slip might have been a false break rather than a genuine trend reversal.
Technical Analysis
- The price structure is neutral-to-bullish while XRP remains above the $2.34 support level. Intraday activity reveals an accumulation zone forming within the $2.34–$2.35 range, with notable resistance at around $2.39.
- Momentum indicators display declining volatility and a resetting RSI after previous overextensions.
- A decisive breach above $2.39 opens up the trajectory towards $2.47, while failing to sustain above $2.34 may lead to a drop towards the $2.28–$2.31 cluster. Long-term analysts are signaling a possible 40% correction towards $1.55 if wider risk-off sentiment worsens—potentially setting the ground for the next cyclical advance.
What Traders Are Watching
- Traders are monitoring ETF developments leading up to October 25 as potential volatility catalysts. A reclaim of $2.40 with volume confirmation could spark the next ascent towards $2.65.
- Macro traders remain cautious about U.S.–China tariff updates and the Fed’s stance on liquidity—both seen as key drivers for the next significant market move.