Heavy deleveraging across derivatives markets drags XRP lower before buyers defend the $2.40 zone, setting up a key support retest heading into Asia trading.
News Background
- XRP traded sharply lower through the October 14–15 session as macro pressure and broad crypto deleveraging sent open interest down 50% to $4.22 billion.
- Despite the washout, spot volumes jumped 40%, signaling institutional re-entry.
- Ripple’s newly announced partnership with Immunefi — a $200,000 XRP Ledger security test running Oct. 27–Nov. 24 — helped anchor sentiment after an early-session slide.
Price Action Summary
- XRP fell 1.97%, sliding from $2.54 to $2.49 while swinging through a $0.16 band ($2.55–$2.39) — roughly 6% intraday volatility.
- Buyers stepped in repeatedly at $2.40–$2.42, defending key support after a midday capitulation.
- Volume exploded to 179.4 M at 13:00, nearly double the 24-hour average, validating accumulation at the lows.
- Sellers capped rebounds near $2.53, where consistent distribution formed a near-term ceiling.
- Late-session trade saw XRP recover modestly to $2.50 as dip-buying stabilized order books.
Technical Analysis
- The $2.40–$2.42 area remains the critical pivot for bulls. Multiple rebounds confirm institutional defense, but momentum remains fragile below the $2.53–$2.55 resistance cluster.
- A sustained break below $2.40 would open downside targets at $2.33 and $2.25, while reclaiming $2.53 could re-establish an advance toward the broader $2.65 breakout line.
- Volume-weighted metrics point to accumulation amid forced unwinds — a classic short-term base-building phase if funding normalizes.
What Traders Are Watching
- Whether $2.40 continues to hold through Monday’s Asia open.
- Re-leveraging signs after open interest halved on derivatives exchanges.
- Volume follow-through above $2.50 confirming accumulation.
- Macro headlines tied to trade-war rhetoric and Fed policy as volatility drivers.
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