XRP Stabilizes Near $2.40 as 6% Pullback Pauses, Momentum Could Push to $2.65 -

XRP Stabilizes Near $2.40 Support Amid Market Deleveraging, Eyes $2.65 Breakout

XRP found footing around $2.40–$2.42 after a sharp sell-off driven by derivatives deleveraging, setting the stage for a key support retest heading into Asia trading.

Market Overview
During the October 14–15 session, XRP declined as macro pressures and broad crypto liquidation drove open interest down 50% to $4.22 billion. Spot volumes rose 40%, indicating institutional buying. Sentiment was bolstered by Ripple’s upcoming $200,000 XRPL security test with Immunefi, running from Oct. 27–Nov. 24.

Price Action
XRP dropped 1.97%, moving from $2.54 to $2.49, within a $0.16 intraday range (~6% volatility). Buyers repeatedly defended the $2.40–$2.42 zone, while volume spiked to 179.4M at 13:00, validating demand at the lows. Resistance capped gains near $2.53, with late-session trading lifting XRP to $2.50.

Technical Outlook
The $2.40–$2.42 support remains pivotal. Breaking below this level could target $2.33–$2.25, while reclaiming $2.53 may pave the way toward $2.65. Volume patterns suggest short-term accumulation amid easing leverage pressures.

Key Levels to Watch