XRP Defends $2.40 Support Amid Deleveraging, Eyes $2.65 Breakout
XRP stabilized near $2.40–$2.42 after derivatives-driven selling pressured the market, setting up a critical support retest ahead of Asia trading.
Market Overview
Between Oct. 14–15, XRP declined as macro headwinds and broad crypto deleveraging pushed open interest down 50% to $4.22B. Spot volumes rose 40%, signaling renewed institutional buying. Investor confidence was bolstered by Ripple’s upcoming $200K XRPL security test with Immunefi (Oct. 27–Nov. 24).
Price Action
XRP slipped nearly 2%, from $2.54 to $2.49, in a $0.16 intraday range (~6% volatility). Buyers repeatedly defended the $2.40–$2.42 zone, while volume surged to 179.4M, confirming accumulation. Rebounds met resistance near $2.53, with late-session trading lifting XRP to $2.50.
Technical Outlook
Support at $2.40–$2.42 is key. A break could target $2.33–$2.25, while reclaiming $2.53 may pave the way toward a $2.65 breakout. Volume patterns suggest short-term base-building amid easing leverage pressures.
Traders’ Focus
- $2.40 support through Asia trading
- Signs of re-leveraging after derivatives open interest halved
- Volume follow-through above $2.50
- Macro catalysts including U.S.–China trade tensions and Fed policy
