XRP Sees Stability After Early Decline, Traders Monitor $2.40 Threshold

XRP Maintains Stability Following Initial Dip

XRP demonstrated resilience on Friday, maintaining key support levels despite an early decline to $2.19. Institutional investors absorbed selling pressure in the face of renewed U.S.-China tariff concerns and anticipation surrounding upcoming SEC decisions on spot XRP ETFs.

Key Insights

• XRP traded within a 7% range from $2.19 to $2.35 over the 24-hour period starting October 17.
• Trading volume surged to 246.7M at 07:00, significantly above the average, as sellers exited near $2.23.
• The price rebounded from a low of $2.19 to close at $2.33, marking a 1% increase from the session's opening.
• The overall cryptocurrency market cap decreased by 6% to $3.5 trillion amid macroeconomic tensions and trade rhetoric.
• The SEC continues to review six pending spot XRP ETF applications, with a decision expected by October 25, alongside Ripple's planned $1 billion treasury funding.

Market Context

The initial session drop mirrored a broader digital asset downturn as investors reduced risk exposure ahead of critical trade and ETF developments. XRP quickly regained stability due to robust buy-side activity and Ripple's substantial treasury fundraising, which analysts view as a strategic reallocation rather than a sign of structural weakness.

Price Movement Overview

• XRP fell to $2.19 at 07:00 UTC on high volume, establishing crucial intraday support.
• Mid-session saw a bullish recovery, pushing prices to $2.33-$2.35 resistance.
• The last hour (04:22-05:21 UTC) featured a minor dip to $2.32, followed by a recovery to $2.33, with peak tick volume of 1.69M.
• Consolidation between $2.32 and $2.34 indicates a strong base, suggesting solid absorption near previous lows.

Technical Analysis

• Support: $2.23-$2.25 remains a key accumulation zone, with interest below $2.20.
• Resistance: The $2.35-$2.38 band limits upside; a confirmed breakout is needed above $2.40.
• Volume: Peak of 246.7M during selloff; late-session surges (~1.7M) suggest liquidity return.
• Trend: Gradual upward bias post-morning dip; RSI is neutral, MACD is stabilizing.
• Structure: Short-term consolidation within $2.19-$2.35 suggests reaccumulation ahead of potential ETF catalysts.

Trader Focus

• Monitoring the ETF approval window (October 18-25) and market reaction to SEC outcomes.
• Observing $2.30 as a base support level through the weekend.
• Impact of Ripple's $1 billion treasury raise on secondary markets.
• Broader risk sentiment as tariff escalations affect altcoin liquidity.
• Potential technical breakout above $2.40, signaling a move towards the $2.70-$3.00 range.