XRP remains squeezed between support and resistance, trading in a narrow range of $1.46 to $1.56 after failing to reclaim its previous $1.70 high. According to technical analysis, the token's structure is neutral, with price compressed between descending resistance and horizontal support.
An analyst has indicated that confirmation of a breakout would require XRP to break resistance, return to test that level as support, and then push through the local high. Previous upside moves have produced false breakouts, making multiple closes at higher levels especially important for confirming any continuation.
At the time of analysis on October 7, XRP was trading around $1.47, down 1.5% in 24 hours and nearly 2% across seven days, though its 30-day performance remained positive at close to 5%. Trading volume rose almost 32% to around $2.14 billion over the past day.
Technical Levels and Price Targets
Using Fibonacci extensions based on the September 16 low near $1.25 and the $1.69–$1.70 high, technical analysis suggests a successful breakout could put $1.80 to $2 in view, with around $2.05 as a further possibility. However, resistance near $1.65 and $1.69 must be cleared first.
On the weekly chart, the 50-week exponential moving average has served as a price cap for seven weeks, while the rising 20-week EMA acts as support. A sustained move through the 50-week EMA, particularly with multiple weekly closes above it, would strengthen the bullish setup. Weekly support sits near $1.35, while a loss of the 20-week EMA could open a deeper move toward $1.20 to $1.10.
Market Data and Exchange Flows
Approximately 1.6 billion XRP has flowed into Binance over the previous 30 days, marking the highest such inflow since March. While exchange transfers do not necessarily indicate selling pressure, continued inflows alongside weakening price could add downward pressure.
XRP spot exchange-traded funds recorded $1.79 billion in cumulative net inflows as of October 6, including $3.14 million that day.
