XRP is testing the $2.40 support; targeting $2.65.

XRP has experienced a sharp decline due to macroeconomic pressures and market deleveraging. A 50% reduction in open positions has created uncertainty among investors. However, despite this drop, spot trading volumes have increased by 40%. This situation could be a sign of potential institutional re-entry.

The $2.40–$2.42 support zone is critically important for XRP. Buyers continue to defend this level under volatile trading conditions. While significant deleveraging in the derivatives markets has pulled XRP down, the buyers' ability to maintain the $2.40 level creates an important support test heading into Asian trading.

XRP saw a sharp decline recorded between October 14-15, with the impact of macro pressures and widespread crypto deleveraging bringing open positions down to $4.22 billion.