XRP struggles below $2.40 as whales sell off and ETF filings are on hold. Analysts agree: XRP's floor remains uncertain until Bitcoin stabilizes above $115,000. With accumulation potential and prolonged correction risk, what strategy to follow in this volatile landscape?
The XRP market is going through a delicate phase. Over the past thirty days, the largest holders have liquidated more than 400 million tokens, representing approximately $1.25 billion. This selling pressure has directly contributed to the price dropping below the psychological threshold of $2.40, with a 3% decrease in the last 24 hours.
This massive exit coincides with a major political event: The American government shutdown. The SEC has had to postpone the review of seven XRP-linked ETF applications, initially scheduled between October 18 and November 14. The regulatory agency’s limited staff has paralyzed the approval process, creating a vacuum of uncertainty in the market.
Predictive betting platform Kalshi now estimates that the shutdown could extend up to 25 days, pushing regulatory decisions even further away. For institutional investors, this regulatory uncertainty represents a major barrier to capital commitment. This is true even though XRP’s fundamentals remain solid with a market capitalization of $142.7 billion and fifth place in the cryptocurrency rankings.
From a technical analysis perspective, XRP has broken a symmetrical triangle that had structured its price action since last July. This breakdown below $2.70 triggered cascades of automatic stop-losses, propelling the price toward the $2.30 zone, its lowest level in several months.
The 100-day simple moving average currently sits at $2.63 and constitutes immediate resistance. The Relative Strength Index (RSI) displays 26.9, a clearly oversold level that could signal a short-term technical rebound. However, the persistent weakness of Bitcoin below $112,000 continues to weigh on the entire altcoin market.
Two scenarios to watch:
Analysts remain divided on the ideal entry timing. Even though XRP’s fundamentals, particularly growing institutional interest and ETF prospects, remain attractive in the medium term. XRP is ready to rebound and could target $3.30, quickly.
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