XRP on the Edge: $167 Billion Market Cap Faces Pressure as Key Support Tested

On October 9, XRP traded between $2.77 and $2.91, holding a market capitalization of $167 billion and a 24-hour trading volume of $5.24 billion. The asset remains in a tight consolidation phase as bulls and bears wait for the next decisive move.

Weakening Momentum and Growing Pressure On the 1-hour chart, XRP shows signs of fading strength — repeatedly rejecting the $2.925 resistance level, signaling short-term exhaustion. The price is now hovering near $2.77, close to its local lows.

The RSI is nearing the oversold zone, but a confirmed reversal has yet to appear. A sustained move above $2.80 supported by higher volume would be needed for a bullish recovery. The 4-hour chart outlines a consistent downward trend of lower highs and lows. XRP has fallen from $3.095 to $2.772, with every rebound attempt meeting resistance. The former support zone at $2.88–$2.92 has now turned into resistance, confirming the continuation of short-term bearish momentum.

Daily Chart: Bears in Control The broader trend remains bearish. After peaking at $3.183 and sliding back to $2.706, XRP formed a bearish engulfing pattern, indicating sellers are taking control.

Trading volume supports this narrative, with strong selling pressure contrasting with weak buying volume. A confirmed break below $2.70 could trigger a sharp decline toward $2.50, while a successful defense of support might lead to a rebound toward $2.90–$3.10, where a key resistance zone awaits.

Technical Indicators: Neutral but Bearish-Leaning Momentum indicators show mixed signals — RSI 41.02, Stochastic 34.99, CCI -83.93, and ADX 13.15 — all suggesting weak momentum and uncertainty.

Bearish pressure is reinforced by MACD (-0.01579), Momentum (-0.09456), and Awesome Oscillator (-0.01680) readings. Moving averages confirm the negative sentiment: all short- to mid-term EMAs and SMAs (10–100) are above the current price, reflecting continued downside pressure.

Only the long-term EMAs and SMAs (200) near $2.64 and $2.57 may offer temporary support if the decline deepens.

Possible Scenarios Bullish case:

If XRP holds $2.70 and confirms a reversal with a strong green candle and volume, a recovery toward $2.90–$3.10 is likely. A sustained bullish divergence and reclaiming key moving averages would be essential for trend continuation. Bearish case:

A confirmed breakdown below $2.70 would open the door to a steeper drop toward $2.50 or lower. The overall structure remains bearish, with sellers dominating across all timeframes.

Summary:

XRP stands at a critical crossroads — either it defends the $2.70 support and stages a rebound, or it enters another phase of correction. With a $167 billion market cap and growing macro uncertainty, the next move could define the future trajectory of Ripple’s ecosystem.

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