Overview
- XRP trades near $2.43 after touching the $2.40 area, down about 5% on the week and 18% over the month from a July peak near $3.85.
- Ripple co-founder Chris Larsen sold 50 million XRP on Oct. 20, worth roughly $120 million, prompting social-media pessimism that on-chain data indicates was absorbed without panic.
- 24-hour spot volume rose to about $4.12 billion, up nearly 20%, while derivatives open interest and futures volume increased per CoinGlass, pointing to higher trader engagement.
- Technical views flag $2.40 as short-term support with downside risk toward $2.10–$1.80 if it breaks, while a sustained hold could see tests of resistance in the $2.60–$2.80 zone.
- Pending spot XRP ETF applications from CoinShares, Bitwise, and Grayscale are cited as a potential catalyst if approved, with some analysts projecting high odds and sizable inflows.