XRPOn the morning of October 14, it dropped by 2–3 percent, falling below the $2.60 threshold. In-blockchain data shows that the selling pressure on the altcoin increased with the XRP transfer worth $ 63 million transferred to Binance. While the 2.55-2.56 dollar band was defended in intraday transactions, profit taking concentrated in the 2.65-2.66 dollar band diminished the upward attempts of the price. Jumps in volume on an hourly basis, which double the normal course, indicate that bottom buying continues. In the technical outlook, a permanent recovery of $2.60 could create a new testing ground around $2.70.
What are the Important Levels in XRP?
The $63 million transfer, reported based on on-blockchain data, increased short-term supply in XRP, strengthening the sell wall around $2.66. During the same period, as market depth decreased, the impact of single large orders pushed the price below $2.57. Then, a horizontal balance was formed in the range of 2.55–2.56 dollars. The data indicate that sales progress faster in the minutes when the buying side in the order book is weak.
For XRP, the $2.55 area continued to remain the key intraday support. The $2.65-$2.66 band worked as the top area throughout the day. Repeated pullbacks from this band ensured that the downward trend was maintained in the short-term trend. Market participants expect a possible retreat to the 2.50-2.52 dollar region if the support is broken, and in the opposite scenario, acceptance above 2.60 will open the door to an attempt at 2.70.
What Happens Now?
On the other hand, intraday volume in XRP increased significantly above the average in the bottom areas. This chart confirms the buying approach of institutional addresses on weakness. Still, lower highs suggest that the supply side continues to dominate. As long as the short-term structure remains below the 200-hour average, the cautious outlook is maintained.
altcoinIf the price remains above 2.60, the momentum may find balance again. Otherwise, closing below support may deepen the selling wave by accelerating the unwinding of leveraged positions.
