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ZEC $1,143 XRP slips below $1.32 as analyst flags $1.25 rebound zone
XRP traded near $1.30 after a weekly drop, while analyst Ali Martinez points to $1.25 as possible support before any recovery.
Key takeaways
- The weekly loss. XRP's weekly chart showed a 6.54% decline on Oct. 15, with the daily chart down 1.07%.
- The analyst level. Ali Martinez named $1.25 as potential support, with conditional targets of $1.42 and $1.60.
- The bounce. XRP traded at $1.34 on Oct. 16, a 4.6% gain from its $1.284 intraday low.
What happened
XRP traded near $1.318 on Oct. 15 after falling to $1.284, according to TradingView charts cited in a Crypto.news report. The weekly chart showed a 6.54% loss, and the daily chart showed a 1.07% decline.
The daily RSI stood at 36.84, below its displayed average of 46.89 but above the conventional oversold level of 30. The price sat just above its lower Bollinger Band at $1.3077, well below the middle band at $1.4440 and the upper band at $1.5803.
Analyst Ali Martinez described XRP as trading in a parallel channel on the hourly chart. He said the price could fall toward the lower boundary around $1.25 before a rebound, with recovery targets of $1.42 and $1.60.
A CoinGape report on Oct. 16 said XRP traded at $1.34, a 4.6% gain from the $1.284 low. Analyst Darkfost noted that more than $184 million in buy volumes flowed into Binance after the drop below $1.30.
A later report from The Crypto Basic put XRP near $1.33 after a 24-hour low around $1.29. It said the price had already traded beneath the $1.31 A-wave low, so a rebound may not need to sweep $1.25 first.
First $1.52Latest $1.30-14.5% over the period
Points are daily observations, not closing prices.
Why it matters
The decline came as U.S. inflation drew fresh attention. The Bureau of Labor Statistics reported that September consumer prices rose 3.7% from a year earlier, up from 3.4% in August, and rose 0.6% during the month.
CoinGlass showed liquidation clusters above the market near $1.39 and $1.43. Those levels sit between the current price and the $1.42 target Martinez named.
Open interest fell to $2.84 billion from $3.54 billion on Oct. 7, even as long positions rose. The weighted funding rate reached a one-week high of 0.0101%, and the long/short ratio rose to 1.05.
On the daily chart, a descending triangle formed with support at $1.28, and the RSI read 38. A larger demand zone sits around $1.05-$1.15, which the Crypto Basic report said would matter if the correction deepens.
What is still unclear
- Martinez presented $1.25 as a potential buying area, not an established floor, so whether buyers respond there is unresolved.
- The Crypto Basic report said XRP may rebound without touching $1.25, but it also said sellers could keep pressing the price deeper into the support zone.
Questions readers ask
What is XRP's price now?
CoinGecko data showed XRP near $1.30 on Oct. 17. Reports from Oct. 15 and Oct. 16 put it near $1.318 and $1.34 at those times.
Why did XRP fall?
The Crypto.news report tied the retreat to renewed attention on U.S. inflation. The Bureau of Labor Statistics reported September consumer prices rose 3.7% from a year earlier.
What price levels is Ali Martinez watching?
Martinez named $1.25 as potential support, with recovery targets of $1.42 and $1.60 if buyers step in near the lower channel boundary.
What is XRP's RSI?
The daily RSI stood at 36.84 on Oct. 15, per TradingView. A CoinGape report on Oct. 16 cited an RSI reading of 38.
