XRP Consolidation Around $2.40 Could Lead to a Sharp Bounce if Whale Activity Eases

XRP Drops to $2.41 as Whale Selling Triggers Derivatives Deleveraging

XRP (XRP) fell 6% from $2.49 to $2.41 between October 14–15, marking one of its steepest single-day declines this month. The sell-off followed sustained whale distribution, with 2.23 billion tokens — roughly $5.5 billion — moved to exchanges since October 10.

Futures open interest tumbled 50% to $4.22 billion, signaling forced deleveraging as market makers reduced exposure amid ongoing macroeconomic and regulatory uncertainty. The institutional selling wiped out about $10 billion in market value across derivatives markets.

Price Action Recap

• XRP declined from $2.56 to $2.41 over a 24-hour period ending Oct. 15, 20:00, representing 6% downside and a $0.15 intraday range (6.3% volatility).
• Selling pressure intensified between 13:00–15:00, with volumes spiking from 119M to 154M tokens.
• Support at $2.48–$2.50 failed, triggering cascade liquidations that pushed XRP to $2.40.
• A brief rebound to $2.44 around 19:27 was rejected; the token closed near the lows at $2.41.
• Final-hour volumes peaked at 4.5M, confirming capitulation before activity subsided.

Technical Analysis

• Breaking below $2.48 confirms a short-term downtrend.
• Support sits at $2.40–$2.42, with interim resistance at $2.55–$2.56 and broader supply around $2.65.
• Volume patterns indicate institutional selling rather than retail panic.
• If $2.40 holds, XRP may enter range-bound consolidation until leverage normalizes. A reclaim above $2.55 would suggest re-accumulation.
• Momentum indicators remain oversold, and funding rates across major derivatives platforms are negative, reinforcing bearish bias.

Key Levels and Watchpoints

1. $2.40 support — can it withstand further whale or fund selling?
2. Open interest recovery — a sign of stabilization or renewed short positions.
3. Spot inflows vs. exchange outflows — to gauge accumulation trends.
4. Reaction at $2.65 resistance — for confirmation of a bounce.

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