XRP Seeks Catalyst to Halt Downtrend, Breaks Below $1.30
Ripple (XRP) shifted into a defensive position after the price broke below $1.30, and crypto analysts project the downtrend will deepen without a catalyst to reverse bearish sentiment.
Trading data from a crypto exchange showed XRP down 2.41% to $1.28, underperforming a broadly weaker crypto market, driven mainly by a technical breakdown at key support and stalled institutional inflows.
The move reflects technical rejection and lack of buying volume as price tests the lower boundary of a 10-week range.
XRP is trading below its 30-day key moving averages at $1.42 and testing the lower band of a well-defined 10-week range between $1.25–$1.30 support and $1.50–$1.60 resistance.
24-hour trading volume fell 5.07% to $1.52B, confirming weak buying interest to defend this level. The Relative Strength Index at 38.84 shows oversold conditions but no bullish divergence yet.
Price is at a critical juncture; holding support is key to preventing a deeper correction. A daily close below $1.25 would confirm a breakdown from the multi-week consolidation.
The total crypto market cap fell 1.31%, with Bitcoin down 1.13%. Significant outflows from U.S. spot Bitcoin ETFs exacerbated the decline, with $635 million leaving on October 22—the largest single-day withdrawal since June.
While XRP and Zcash ETFs saw a brief rotation earlier in the week, XRP-specific ETF flows turned flat on October 23, ending a two-session inflow run. This suggests XRP lacked the institutional buying momentum to decouple from a risk-off move across digital assets.
The immediate trend is bearish, hinging on the $1.25–$1.30 support zone. Holding above this area, coupled with stabilising Bitcoin prices, could lead to a rebound toward the 50% Fibonacci retracement level at $1.44.
The key near-term macro trigger is the Federal Reserve’s interest rate decision on October 28. A break below support would likely trigger stop-losses and target the next significant level near $1.20.
The coin is in a defensive posture and needs a catalyst to shift sentiment. Bitcoin’s price action around $80,000 and the Fed’s commentary provide directional cues.
XRP’s drop reflects technical selling at range support, spillover from broad market risk aversion, and a pause in institutional ETF inflows. Nvidia Tokenized Stock Dips as Market Cap Falls to $5.12trn
