XRP slips below $1.43 support as $1.28 level comes into focus

What happened

XRP traded near $1.39 on Oct. 9 after falling 7.6% over seven days, according to CoinGecko. The token's 50-day moving average sits at $1.4336 and its 200-day at $1.2805. CoinGecko recorded a seven-day trading range of $1.32, $1.53.

The daily chart places XRP at $1.3903, about 3% beneath the 50-day average, after a retreat from the late-September area around $1.50, $1.60. On the Binance weekly chart, XRP fell 8.56% for the calendar week, from $1.5205 to $1.3905. Its weekly high was $1.5310 and its low $1.3189.

XRP's market capitalization stood near $87.6 billion, and the token remained down 7.6% over seven days despite a 4.5% recovery over 24 hours. Evernorth expects XRPN trading to begin Oct. 12, subject to closing conditions and Nasdaq requirements.

Coinspeaker reported a -1% overnight drop to $1.39, driven by a sell-off in leveraged derivatives positions ahead of the Evernorth Nasdaq listing scheduled for October 12. Trading volume dropped more than 53% in 24 hours, with transaction value at $693M.

Why it matters

The break below the 50-day average leaves the recent bounce beneath a major daily trend reference. The closest downside reference is the weekly low near $1.32. A renewed break beneath that low would shift focus to the 200-day average near $1.28. If the $1.37 support holds, XRP could rebound toward the 7-day simple moving average at $1.45.

Derivatives data show traders reducing risk. Over the past week, XRP futures open interest fell 8.6%, while XRP fell even as Bitcoin rose 0.5% and the total crypto market cap was mostly flat.

What the data shows

The daily Bull Bear Power indicator reads negative at minus 0.1331. The weekly Average Directional Index reads 27.46 and has declined from earlier readings above 30. The weekly Murrey Math indicator places a pivot at $1.5625 and marks the bottom of its range at $1.1719.

CoinGlass shows overhead liquidation concentrations around $1.43, $1.44 and $1.53, $1.54. An upside scenario would require XRP to recover $1.43, then clear the weekly high near $1.53 and the $1.5625 pivot, bringing the late-September highs around $1.60, $1.65 back into view.

What is still unclear

• Whether XRP can recover $1.43 and then clear the recent weekly high near $1.53 and the $1.5625 pivot.
• Whether a successful public listing supports market sentiment, given the outlook remains bearish below $1.45.
• Whether the $1.37 support holds, a break below it would put the next support near $1.32 in focus.

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