Ripple (XRP) Price Forecast: Will $55M Leverage Support Prevent Breakdown to $2.50?

Key Notes

• Bulls focus $55 million in leveraged positions close to $2.7, representing 58% of all lively lengthy contracts to stop additional decline.
• XRP liquidations totaled solely $17 million in comparison with Bitcoin's $188 million, exhibiting merchants lined positions slightly than dealing with compelled exits.
• Technical evaluation reveals a double-bottom sample forming between $2.6-$2.8 with potential rally to $3.6 if $3.1 resistance breaks.

Ripple

XRP
$2.19



24h volatility:
3.5%


Market cap:
$131.82 B



Vol. 24h:
$7.03 B



worth tumbled 3%, buying and selling as little as $2.78 on October 9, mirroring the broader market downturn as Bitcoin’s pullback from all-time highs sparked cascading liquidations. The correction dragged XRP beneath the $3 psychological help, however buying and selling information from derivatives exchanges signifies that bulls are aggressively masking positions to stop deeper losses.

According to Coinglass’ Liquidation map, which tracks lively leverage positions deployed at key worth ranges, quick merchants dominated XRP exercise on Thursday, with $146 million in open quick contracts in comparison with $95 million in longs. Nevertheless, round $55 million in leveraged lengthy contracts are clustered close to $2.7, accounting for 58% of all lively bullish leverage. Such a big leverage cluster indicators intent to defend key worth ranges beneath it.

Mixture market flows additionally emphasize XRP relative resilience. Market-wide liquidations topped $679 million, with Bitcoin

BTC
$91 430



24h volatility:
4.4%


Market cap:
$1.82 T



Vol. 24h:
$121.86 B



and Ethereum

ETH
$3 058



24h volatility:
4.4%


Market cap:
$369.33 B



Vol. 24h:
$48.83 B



bulls taking the largest losses with $188 million and $181 million in liquidated lengthy contracts respectively.

Regardless of being the fifth largest cryptocurrency by market cap, XRP bulls misplaced solely $17 million within the final 24 hours, whereas decrease cap belongings like Dogecoin

DOGE
$0.16



24h volatility:
3.2%


Market cap:
$23.85 B



Vol. 24h:
$3.25 B



and Plasma (XPL) noticed bigger losses. This displays XRP merchants opting to cowl their positions on Thursday, slightly than maintaining with the tempo of the broader market sell-off.

Ripple (XRP) Worth Forecast: Can Bulls Verify the Double-Backside Reversal?

From a technical standpoint, XRP’s present worth setup displays a growing double-bottom formation between $2.6 and $2.8, usually interpreted as a bullish reversal sample. The neckline sits round $3.1, which additionally aligns with the mid-line of the Bollinger Bands (BB) and the 20-day easy shifting common (SMA).

A decisive breakout above this degree would validate the double-bottom sign and doubtlessly set off an upside continuation towards the projected bullish XRP worth goal at $3.6.

Momentum indicators additionally present a cautiously bullish backdrop. The Relative Energy Index (RSI) at present hovers at 41, suggesting near-oversold situations. This positioning sometimes favors a short-term bounce, notably when coupled with compression on Bollinger Bands signaling potential volatility growth.

If bullish leverage round $2.7 continues to carry, XRP might rebound towards $3.1 within the near-term, adopted by a breakout try towards $3.6.

Conversely, failure to maintain the $2.7 help may invalidate the sample, elevating the danger of a breakdown towards the decrease Bollinger Band at $2.50.

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Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed info however shouldn't be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm info by yourself and seek the advice of with an expert earlier than making any selections primarily based on this content material.

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