XRP Slides 6% to $2.41 as Whale Selling Triggers Market Deleveraging
XRP (XRP) dropped 6% from $2.49 to $2.41 between October 14–15, marking one of the sharpest single-day declines this month. The sell-off followed sustained whale distribution, with 2.23 billion XRP — worth roughly $5.5 billion — moved to exchanges since October 10.
Futures open interest fell 50% to $4.22 billion, signaling forced deleveraging as market makers reduced risk exposure amid ongoing macroeconomic and regulatory uncertainty. The heavy institutional selling wiped out approximately $10 billion in market value across derivatives markets.
Price Action Summary
- XRP declined from $2.56 to $2.41 over a 24-hour period ending Oct. 15, 20:00, representing 6% downside and a $0.15 intraday range (6.3% volatility).
- Intense selling occurred between 13:00–15:00, with volumes spiking from 119M to 154M tokens.
- Support at $2.48–$2.50 broke, triggering cascade liquidations that pushed the price down to $2.40.
- A brief rebound to $2.44 around 19:27 was rejected, and XRP closed near the lows at $2.41.
- Final-hour volumes peaked at 4.5M, confirming capitulation before trading activity slowed.
Technical Analysis
- Breaking below $2.48 signals a short-term trend reversal.
- Support now lies at $2.40–$2.42, with interim resistance at $2.55–$2.56 and broader supply near $2.65.
- Volume patterns point to institutional outflows rather than retail panic.
- If $2.40 holds, XRP may consolidate in a range-bound pattern until leverage stabilizes. A move above $2.55 could indicate re-accumulation.
- Momentum indicators remain oversold, and funding rates on major derivatives platforms turned negative, reinforcing bearish sentiment.
Key Levels and Watchpoints
- $2.40 support — can it hold against further whale or institutional selling?
- Open interest recovery — a sign of market stabilization or new short positions forming.
- Spot inflows vs. exchange outflows — to monitor accumulation trends.
- Reaction at $2.65 resistance — for confirmation of a potential bounce.
