A market-wide dump triggered massive liquidations, with XRP dumping 15%+ to $1.25 and realizing $145 million in losses – its largest since April FUD.
Smart money flows and accumulation show support around $2.50. If bulls hold this level, a $3 retest could be on the horizon.
It was a “market-wide” dump, but Ripple [XRP] got hit the hardest.
On the 10th of October, as the Trump-China trade-off hit, a massive sell-off lit up the books. Consequently, high-caps cracked key support, and over $19 got wiped in cascading liquidations. XRP was right in the crossfire.
However, even while most alts held above August lows, XRP got smoked. It dumped 15%+, wicking down to $1.25, effectively erasing all post-election gains. In short, the altcoin experienced a full-blown “crash.”
However, the pain doesn’t stop there.
On-chain metrics show a clear bearish flip. Ripple’s Net Realized Profit/Loss (NRPL) turned deep red, with $145 million in losses realized, marking the biggest hit since April’s FUD.
This kind of flip usually reinforces a weak market structure. HODLers were quick to panic sell, showing conviction is fading. In this context, with XRP bouncing back to $2.40 at press time, is this just another dead-cat bounce?
Ripple is showing some respect around $2.50 on the charts.
On the 10th of October, a brutal 21% dump down to $1.25 pushed the RSI deep into extreme oversold territory. Bulls stepped in fast, triggering a 19% rebound in just 30 minutes, capping further bleed.
The next day, XRP chopped in this range. Smart money flows tell the story. Wallets holding (100 million-1 billion) XRP offloaded over 1 billion coins, dropping their total stash to 8.54 billion, sparking panic selling.
Meanwhile, the biggest wallet went the other way.
The 1 billion+ XRP wallet scooped up over 1 billion coins, taking its total stash to 25 billion, almost 25% of Ripple’s circulating supply. This accumulation soaked up supply, preventing the market from free-falling.
In short, XRP’s $2.50 level is back in the spotlight as a battleground. That said, the 19% spike shows there’s still some bid under the price. If bulls can hold it, Ripple could be looking at a $3 retest sooner than many expect.
