XRP is trading around $2.30 after falling 22.6% over the past month, with $2.20 as key support and potential resistance at $2.46, while year-to-date holders remain up over 350%.
Ripple Prime’s institutional trading platform and spot XRP ETF filings from Bitwise and Canary Capital (expected mid-November) could drive demand, though approvals remain uncertain.
Price forecasts range from bearish ($1.60-$2) if ETF approvals delay to bullish ($3.80-$4.20) if Ripple’s $2.25B in acquisitions (Hidden Road, GTreasury) boost institutional adoption.
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XRP (CRYPTO: XRP) took a beating during the recent crypto flash crash, falling more than 20% to around $2.25 as panic selling hammered major assets.
The altcoin briefly climbed back above $2.40 before sellers pushed it down again. The bounce didn’t last, but it showed buyers are still interested despite the fear. Now, as volatility cools, investors are watching for what could fuel XRP’s next big move.
Over the past month, XRP has fallen 22.6% to around $2.30. The chart shows a steady downtrend. Recovery attempts keep failing as sellers remain in control.
XRP has dropped below the Bollinger Band midline, with resistance near $2.46. The lower band at $2.24 provides temporary support, but repeated tests suggest it could break under more selling pressure. Buying interest is weak, and trading volume has dropped compared to past surges. Short-term moving averages (MA5 and MA10) sit above the current price, signaling bearish momentum.
Despite recent weakness, XRP’s long-term performance remains strong. Holders are still up over 350% in the past year. Market sentiment leans cautious, and XRP must stay above $2.20 to prevent even greater losses. The recent drop after the crypto flash crash hasn’t erased its solid yearly gains, but the short-term trend remains weak. Buyers are waiting for clearer signals before stepping in again.
Ripple’s expansion is entering a new phase. Despite recent price pressure, progress in regulation, institutional trading, and market access could fuel XRP’s recovery. Four catalysts stand out:
The launch of Ripple Prime marks a defining moment in Ripple’s journey to serve institutional investors. The platform lets large clients conduct secure over-the-counter spot trades for XRP, Ripple USD (RLUSD), and other major digital assets.
