XRP is trading narrowly following a volatile stretch, holding above near-term support as market participants weigh renewed risk exposure. Strategists warn that a deeper pullback towards $1.55 remains plausible before a structural recovery attempt towards the $7-$27 corridor.
News background
- The token stabilized through Thursday’s Asia-US crossover, consolidating between $2.34-$2.39 after a strong rally earlier in the week.
- The midday rally to $2.39 on October 18 drew 42.23 million in volume – nearly double the 24-hour average – before fading to a tight band near $2.35.
- Market sentiment remains cautious amid $19 billion in cross-crypto liquidations triggered by escalating trade tensions.
- Ripple’s proposed $1 billion capital raising and the SEC’s ongoing review of six spot XRP ETF filings continue to shape the positioning. Institutional desks report lighter leverage exposure and rotation to cash safeties as traders brace for political headlines and macro catalysts.
Summary of price action
- XRP moved in a compact 2% range during the 18-19 October, cutting a floor near $2.34. Bulls briefly tested the $2.39 ceiling before sellers reloaded.
- Volume diluted through the back half of the day – a classic pre-break compression.
- The last hour (07:10–08:09 UTC) saw XRP bounce back from $2.34 to $2.35 on 590K in turnover, suggesting that the earlier fade may have been a false breakout rather than a pure trend reversal.
Technical Analysis
- The price structure remains neutral-to-bullish as XRP trades above $2.34 support. Intraday action shows an accumulation pocket forming within the $2.34-$2.35 band, with clear resistance anchored near $2.39.
- Momentum models show declining volatility and RSI reset after prior overextension.
- A decisive break above $2.39 reopens $2.47, while failure to hold $2.34 reveals the $2.28-$2.31 cluster. Longer-term technicians are marking a potential 40% correction towards $1.55 if broader risk-off sentiment intensifies – a move that could set the stage for the next cyclical advance.
What Traders See
- Desks see ETF headlines through October 25 as potential volatility triggers. A buyback at $2.40 with volume confirmation could ignite the next wave towards $2.65.
- Macro traders remain wary of US-China tariff developments and Fed language on liquidity – both seen as catalysts for the next stimulus move.
