What Happens Now That The XRP Price Has Revisited | XRP News
XRP is back at a stage merchants keep in mind all too effectively. The cryptocurrency suffered a sharp flash crash on October 10 that despatched the price crashing down from $2.82 to $1.58 earlier than an equally fast rebound towards $2.36. Months later, that very same zone is back in play, however this time with out the volatility spike or quick restoration that characterised the sooner transfer.
At the time of writing, XRP is trading round $1.44, down 10.4% over the previous 24 hours. This sustained promoting stress has pushed the XRP price back into the flash crash low, and the following query is about what occurs from right here.
Why The October 10 Wick Low Matters So Much
According to a technical evaluation performed by crypto analyst Hov on the social media platform X, the October 10 wick low has been one of essentially the most important structural ranges to carry on XRP’s weekly candlestick timeframe chart.
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During the October 2025 flash crash, the XRP price registered a low of round $1.58, which acted as a panic excessive the place the XRP price snapped back shortly as soon as compelled liquidations have been cleared. However, the present state of affairs seems to be completely different. XRP has now revisited and barely undercut that wick low via actual bearish trading, and as famous by crypto analyst Hov, issues are beginning to form up.
Hov’s technical evaluation framework locations XRP within the closing levels of an expanded flat correction, with the present decline forming the C-wave. Notably, the analyst is monitoring an ending diagonal within the C-wave. This is as a result of ending diagonals are recognized for overlapping price motion, compressed ranges, and false breakdowns that may shake out late sellers.
If the construction holds, then XRP might transition into a stabilization section and a potential reversal sequence. If it fails, then the corrective section shouldn’t be but full.
$1.43 Is The Line That Changes Everything
The most important factor to notice going ahead is how XRP reacts at $1.43 on the weekly timeframe. Technical evaluation reveals that that is the extent XRP should maintain to keep the present construction intact. A close under $1.43 would invalidate the ending diagonal thesis and shift the outlook decisively bearish. In the analyst’s phrases, that’s the place “things get real ugly real quick.”
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The bullish state of affairs laid out on the chart additionally is determined by XRP managing to carry above this $1.43 space. In that case, the projection reveals the price stabilizing at this assist earlier than reversing increased and finally going into a highly effective rebound.
Under this outlook, XRP can be getting into an Impulse Wave V within a bigger Elliott Wave construction. If that impulse performs out as anticipated, the chart factors to long-term upside price targets stretching as high as $5.53.
Featured image from Adobe Stock, chart from Tradingview.com
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