XRP News Today: XRP's $2.68 Support: Bearish Correction or Breakout?

XRP faces a critical juncture as veteran trader Peter Brandt highlights a bearish descending triangle pattern, with a potential 20% correction to $2.22 if the $2.68 support level fails. Brandt's analysis, based on a classic technical formation, identifies lower highs converging on $2.68 and a horizontal base, suggesting further downside if the support breaks decisively XRP Price Prediction: 20% Drop if $2.68 Support Fails, Says Peter Brandt^[1]. At current levels near $2.85, a 6% drop below $2.68743 would trigger the projected decline to $2.22163, aligning with historical behavior of descending triangles Peter Brandt Predicts Possible 20% XRP Drop if Support Fails^[2]. This scenario has gained traction amid rising on-chain indicators of selling pressure, including over 320 million XRP moved to exchanges in the past week, pushing exchange reserves to nine-month highs Top Trader Peter Brandt Shares Bearish XRP Target if It Closes …^[3]. Santiment data also show XRP's crowd FUD metric at a six-month peak, historically acting as a contrarian signal for rebounds, though this time may not guarantee a reversal Peter Brandt Outlines The Conditions For a 20% XRP Price Drop^[4].

The bearish outlook is reinforced by behavioral shifts in mid-level holders. Wallets holding 1 million–10 million XRP-accounting for 10.76% of the supply in September 2025-began selling in early October, marking the first such distribution in nearly a year XRP on the Brink: Veteran Trader Peter Brandt Warns of 18% Crash^[5]. This selling pressure, combined with declining Google search interest (below 25 points in late September), underscores waning retail engagement and institutional dominance in the market XRP Price Faces Risk of Drop to $2.2 Amid Bearish Chart Pattern^[6]. Meanwhile, XRP's market cap ($177 billion) now trails BNB's ($178 billion), heightening sensitivity to price swings in rankings XRP at a Crossroads: Can Bulls Defend $2.80—or Will a …^[7].

Contrarian views exist, with some analysts arguing for a potential consolidation phase. CasiTrades notes XRP has held the $3.00 level for days, forming a pattern that could precede a "Wave 3" breakout to $4.00–$4.50 if buying volume returns XRP vs ETH: Is XRP Set to Outperform ETH? Consolidation …^[8]. Similarly, Ali Martinez projects a target of $3.60 if XRP breaks above $3.15 ETH and XRP Consolidate, Eyeing Next Major Breakout^[9]. These bullish scenarios hinge on invalidating the descending triangle, which requires sustained strength above key resistance.

The immediate focus remains on the $2.68 support and $3.15 resistance. A weekly close below $2.68743 would validate the bearish case, while a breakout above $3.15 could shift momentum upward XRP Stalled: Ripple Faces Bearish Sentiment and Resistance^[10]. Institutional sentiment remains mixed: while large holders have accumulated 4.4% of XRP's supply, ETF-related optimism is tempered by regulatory delays and elevated exchange reserves XRP Outshines ETH Now, But For How Long? - Cointelegraph^[11].