XRP fell below a key trendline, weakening short-term bullish momentum. A $959 million liquidation event increased pressure across major crypto assets. Traders closely watch $1.25 support for
Ripple's XRP has entered a critical phase after a sharp market selloff erased nearly $1 billion in leveraged positions. Traders watched the token lose ground during the latest session as selling pressure spread across the crypto market. While the broader trend remains constructive, momentum has weakened noticeably. All eyes now focus on a key support zone near $1.25. The next few trading sessions could determine whether buyers regain control or sellers push prices lower.
https://twitter.com/alicharts/status/2110563978183053415XRP traded near $1.29 on Oct. 15 after another weak day. The token opened around $1.33 before slipping lower. Sellers eventually pushed the price down to roughly $1.28. The move left XRP down about 2.7% during the session. More importantly, the price fell below a rising trendline. That trendline had supported the recovery from August lows near $1.00.
Technical indicators show weakening momentum. The daily RSI sits near 35. That reading approaches oversold conditions. However, sellers still appear to hold an advantage.bThe MACD also reflects fading strength. Current readings suggest bullish momentum has cooled. Buyers need a strong reaction near current levels. The most important area remains between $1.25 and $1.30.
That zone served as a demand region before. Traders now expect buyers to defend that range. A failure there could open the door toward support between $1.00 and $1.10. On the upside, XRP must reclaim resistance between $1.38 and $1.42. Above that level, sellers could emerge again between $1.55 and $1.65.
Recent market conditions have not helped bullish sentiment. The crypto market experienced a major leverage wipeout. Total liquidations reached roughly $959 million within 24 hours. Long positions absorbed most of the damage. More than $879 million in bullish bets disappeared. During the last 12 hours alone, liquidations exceeded $669 million. Large liquidation events often pressure major altcoins.
XRP proved no exception. The resulting volatility pushed price closer to critical support. Analyst Ali Charts believes XRP still trades within a parallel channel. According to his analysis, the price could test the lower channel boundary near $1.25. That level could provide a potential entry point for buyers. A successful rebound from that area could target the channel midpoint near $1.42. If momentum strengthens further, the upper boundary sits near $1.60.
Fundamentally, Ripple continues expanding institutional relationships. Recent partnerships with DriveWealth and Meritz Securities support broader adoption efforts. Standard Chartered also announced RLUSD custody services and participation in planned collateral initiatives. Meanwhile, spot XRP ETF flows remained mostly flat. Recent data showed only small changes in holdings and modest inflows.
