XRP News Today: XRP Faces a Pivotal Moment as Bulls Aim for $3 and Bears Set Sights on $1.58
XRP, currently the fourth-largest cryptocurrency by market cap, finds itself at a crucial crossroads as both traders and analysts keep a close eye on significant support and resistance levels that could shape its short-term direction. The latest price movements indicate a key consolidation range between $2.14 and $2.43, with technical signals and market sentiment suggesting a major move—either upward or downward—may be imminent. Experts caution that the result could alter XRP’s trajectory, potentially sparking a surge toward $3 or leading to a more pronounced pullback.
The first major resistance for XRP is found at $2.39, which coincides with the 20-day EMA and the 0.5 Fibonacci retracement. Beyond this, a strong resistance zone between $2.51 and $2.64 is formed by the 50, 100, and 200 EMAs. Should XRP close above $2.64, it could negate the current bearish outlook and pave the way toward $2.77 and $3.10, as reported by Coin Edition. On the flip side, the $2.16 support (0.382 Fibonacci level) is vital for bulls; if this level fails,
Open interest has climbed to $3.81 billion as of late October, reflecting heightened speculative activity. CoinGlass data also showed a $15.42 million inflow on October 17, indicating renewed buying interest around $2.29. Despite this, technical indicators remain bearish, with momentum still favoring sellers.
CasiTrades pointed out an Elliott Wave formation that suggests XRP is consolidating before a possible impulsive move. The analyst mentioned that a swift V-shaped recovery would require breaking through $2.82, a barrier XRP has not yet overcome. Additionally, inconsistent pricing across exchanges has complicated the technical outlook, with some platforms showing XRP briefly dropping below $1 during recent market swings.
XRP’s recent move into the “Golden Pocket”—a Fibonacci retracement zone between $1.9276 and $1.9592—has attracted attention as a potential support area. Analyst STEPH IS CRYPTO noted that a strong rebound from this range could restore bullish momentum, especially if XRP manages to reclaim $2.08 and $2.20. ColdBloodedCharter on TradingView also identified key buying zones at $2.50, $2.25–$2.30, and $1.90–$2.00, depending on Bitcoin’s performance.
The discussion around a potential XRP ETF remains unresolved, with October 19b-4 filings representing procedural steps in the SEC’s review. Although legal clarity has improved after Ripple’s partial win against the SEC, analysts believe ETF approval is unlikely until after government operations resume.
XRP’s future direction depends on whether buyers can maintain support at $2.16 to fuel a rally toward the $2.51–$2.64 range. A sustained close above $2.64 could trigger a move to $2.77, while dropping below $2.16 could lead to further losses. CoinPaper analysts observed that a weekly close above $2.428 might set off a broader bullish trend, with $3.03 as a potential target.
