Market Overview for XRP/Tether (XRPUSDT) - 24-Hour Summary (2025-10-10)

• XRPUSDT fell sharply from $2.83 to $2.75 amid increased bearish momentum and heavy volume.
• A key support level was breached at $2.79, triggering short-term bearish continuation.
• Volatility expanded as Bollinger Bands widened, with price near the lower band.
• RSI and MACD indicated bearish momentum, with RSI entering oversold territory.
• Large volume surges during the selloff suggest strong selling pressure and possible order flow exhaustion.

XRPUSDT opened at $2.8028 at 12:00 ET – 1 and reached a high of $2.8372 before dropping to a low of $2.7131. It closed at $2.7417 at 12:00 ET. Total volume over the 24-hour period was approximately 55,403,000, while total turnover (notional value) was around $152,441,427.

Structure & Formations

Price action over the past 24 hours displayed a sharp bearish breakdown from a prior consolidation phase. A notable 15-minute bearish engulfing pattern formed at 22:30 ET, signaling the shift in sentiment. The price then entered a downtrend, with a key support at $2.79 being broken. A doji formed at 05:45 ET near $2.8223, indicating indecision before a renewed decline. The 15-minute chart shows a clear bearish flag pattern forming, with the trendline sloping downward from $2.83 to $2.74.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are both bearish, with the 50 MA at around $2.80–$2.81 and the 20 MA closer to the price at $2.75–$2.76. On the daily timeframe, the 50, 100, and 200-day moving averages are in a downtrend, with the 200-day MA acting as a strong bearish signal near $2.78–$2.79. The current price is well below the 50-day MA, reinforcing the bearish bias.

MACD & RSI

The MACD on the 15-minute chart showed a bearish crossover and negative divergence, with the histogram declining as price continued to fall. The RSI entered the oversold zone below 30 for a brief period, but the lack of a reversal suggests continued bearish momentum. RSI remains within a bearish range, and the MACD has yet to show signs of a bullish turn, indicating that the downward trend may persist.

Bollinger Bands

Bollinger Bands have widened significantly as volatility increased during the sharp decline. Price is currently near the lower band on the 15-minute chart, indicating oversold conditions and a potential rebound. However, the lower band remains at $2.73–$2.74, and a break below could accelerate the bearish trend. The upper band has not been tested in this period, suggesting a lack of significant buying interest.

Volume & Turnover

Volume spiked during the key breakdown at 15:30 ET, where price dropped from $2.79 to $2.75 over a 15-minute window. Notional turnover also rose sharply during this period, confirming the bearish breakout. The final 15-minute candle at 15:45 ET saw massive volume (20,060,449.6) and a low of $2.7131, indicating heavy shorting activity. However, volume has decreased in the final candle of the 24-hour window, suggesting a potential pause in the selloff.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $2.8372 to $2.7131, key levels include 38.2% at $2.78 and 61.8% at $2.75. Price is currently near the 61.8% level at $2.7417. A rebound from this area could target the 38.2% level, but a break below 61.8% would suggest further downside to the 50% retracement at $2.745 or the lower band of the downtrend.

Backtest Hypothesis

Given the strong bearish momentum and the confirmation of key levels through volume and price action, a short-term bearish strategy could be backtested using the 50-period MA as a trigger and stop-loss reference. A sell signal might be generated when price crosses below the 50 MA and RSI enters oversold territory, with a stop above the 20 MA. The target could be set at the 61.8% Fibonacci level or the nearest support zone, depending on the volatility and trend strength observed. This approach aligns with the observed breakdown pattern and reinforces the current bearish thesis.