XRP News Today: XRP Faces Critical Test at $2.68 as Bearish Warnings Clash with Faint Bullish Hopes

Veteran trader Peter Brandt has issued a bearish outlook for XRP, predicting a potential 18% drop to $2.20 if the cryptocurrency closes below the critical support level of $2.68. Brandt's analysis identifies a descending triangle pattern, a bearish continuation formation characterized by lower highs and a flat support base, indicating weakening buyer demand. The pattern, which has been forming since late September, suggests sellers are currently dominating the market structure XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1]. As of October 8, XRP was trading at $2.85, below its ascending channel and with key moving averages (50-EMA at $2.94 and 200-EMA at $2.93) in a bearish crossover, reinforcing the momentum reversal XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1].

Technical indicators further support Brandt's bearish stance. The Relative Strength Index (RSI) at 33 is in oversold territory but lacks bullish divergence, while the "three black crows" candlestick pattern highlights consistent selling pressure. Key support levels at $2.81 and $2.70 are now critical; a breakdown could trigger a cascade to $2.22, aligning with Brandt's target XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1]. Conversely, a close above $2.94 could invalidate the bearish scenario and prompt a retest of $3.10 XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1].

Market dynamics also suggest heightened vulnerability for XRP. BNB's recent rally above $1,300 and its market cap surpassing XRP's $177 billion has shifted the top-tier cryptocurrency hierarchy, adding downward pressure on XRP's relative performance XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1]. Additionally, Santiment on-chain data reveals XRP's fear and uncertainty (FUD) index is at its highest since the "Trump tariff" period, a historical precursor to rebounds, though this does not guarantee a reversal XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1].

Contrary to Brandt's bearish view, some analysts propose a potential rebound. Crypto strategist CasiTrades argues XRP's consolidation could set the stage for a "Wave 3" breakout under Elliott Wave Theory, with price targets as high as $4–$4.50 if buying volume surges XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1]. Similarly, analyst EGRAG notes a year-long ascending triangle pattern with a projected breakout window between September and December 2025, targeting $3.35–$3.38 as a trigger zone . However, these optimistic forecasts hinge on XRP reclaiming key resistance levels, which remains uncertain given the current bearish momentum XRP Price Warning: Brandt Eyes 18% Fall to $2.20 if $2.68 Support Breaks^[1].

The immediate technical outlook remains precarious. XRP's price action is compressed beneath a descending trendline that has capped upside since its August peak of $3.60. On-chain data shows positive net inflows into spot markets, suggesting whale accumulation, but descending resistance and bearish momentum indicators keep the risk of deeper retracement elevated . A decisive breakdown below $2.60 could accelerate losses toward $2.41 or $2.08, while a sustained close above $2.93 would signal bullish control and open the path to $3.35–$3.77 .

Market participants are closely monitoring the $2.68–$2.94 range as a pivotal inflection point. Brandt's bearish scenario, if realized, would mark one of XRP's largest pullbacks in months. Conversely, a bullish breakout could reignite the uptrend, though the likelihood of such an outcome appears lower given the current technical and on-chain indicators. Traders are advised to adopt a measured approach, prioritizing risk management as the asset navigates this critical juncture.