Heavy degradation across derivatives markets draws XRP lower before buyers defend the $ 2.40 zone and create a key support retest -on the way to Asia -trading.
News Background
- XRP acted sharply lower through session 14-15. October, when macryches and wide crypto degradation sent open interest 50% to $ 4.22 billion.
- Despite the leaching, stain volumes burst 40%and signaling of institutional re -travel.
- Ripple’s recently announced partnership with Immune Fine – a $ 200,000 XRP Ledger Security Test, which runs October 27 – Nov. 24-help with anchoring mood after a slide early session.
Summary of Price Action
- The XRP dropped 1.97% and slid from $ 2.54 to $ 2.49 while swung through a $ 0.16 ribbon ($ 2.55- $ 2.39) – approx. 6% intraday valley.
- Buyers repeatedly entered $ 2.40- $ 2.42 and defended key support after a noon capitulation.
- Volume exploded to 179.4 m at 13:00, almost twice the 24-hour average, validation of accumulation at low.
- Sellers closed rebounds near $ 2.53, where consistent distribution formed a ceiling in the short term.
- Last-session trading so XRP recovered to $ 2.50 as dip-purchased stabilized order books.
Technical analysis
- The range $ 2.40- $ 2.42 remains the critical turn for bulls. Several rebounds confirm institutional defense, but Momentum remains fragile below $ 2.53- $ 2.55 resistance clusters.
- A sustained break below $ 2.40 would open downward target of $ 2.33 and $ 2.25, while recycling $ 2.53 could restore a progress toward the wider $ 2.65 breakout line.
- Volume-weighted Metrics points to accumulation in the middle of forced off-one classic short-term basic building phase if financing is normalized.
Which dealers are looking at
- Whether $ 2.40 continues to keep through Monday’s Asia open.
- Re -development of signs after open interest halved on derivatives exchanges.
- Volume follow -up over $ 2.50 confirms accumulation.
- Macro headlines tied to trade war rhetoric and bold policy as volatility drivers.
