Market Overview for XRP/Tether (XRPUSDT) on 2025-10-30

• XRPUSDT dropped sharply from $2.63 to $2.50 amid heavy volume spikes and bearish candlestick formations.
• Momentum indicators like RSI and MACD show oversold conditions, suggesting possible short-term rebounds.
• Volatility surged during the 18:45–19:00 ET selloff, with price plunging over 4% on a single 15-minute candle.
• Key support levels are forming around $2.55 and $2.50, while resistance appears at $2.61–2.63.
• Divergences between price and volume suggest uneven conviction in the recent downtrend.

XRPUSDT opened at $2.6302 on October 29, 12:00 ET, and closed at $2.4448 at 12:00 ET on October 30. The 24-hour range was $2.6318 (high) to $2.4484 (low), with total volume of 78.77 million XRP and turnover of $202.2 million. The session saw a sharp selloff from $2.63 to $2.49, marked by bearish engulfing patterns and massive volume.

Structure & Formations

Price action in the past 24 hours showed a clear bearish bias, with a large bearish engulfing pattern forming at $2.56–$2.54 and a second significant breakdown at $2.55–$2.49. The largest single-candle selloff occurred at 18:45 ET, where XRPUSDT fell over 4% on a 15-minute chart. This was followed by a smaller but significant bearish engulfing pattern at $2.50–$2.46. On the upside, the $2.61–2.63 range appears to be a key psychological and prior support-turned-resistance level. A failure to retest this zone could signal a deeper correction.

Moving Averages

The 50-period moving average on the 15-minute chart has sloped downward since the early morning selloff, indicating strong bearish momentum. The 20-period line has crossed below the 50-period line, confirming a short-term bearish bias. On the daily chart, the 50-day MA is trending slightly higher, but the 200-day MA remains above the 50-day line, suggesting that long-term bullish sentiment has not yet been fully erased.

MACD & RSI

The 15-minute MACD has turned deeply bearish, with the histogram showing a wide negative divergence and a bearish crossover on the signal line. RSI has fallen into the oversold territory (around 25) following the 18:45 selloff, indicating that the current price level could provide a short-term bounce. However, the sharp drop without a corresponding volume increase suggests some exhaustion in the sell-off, which may not fully reverse the trend.

Bollinger Bands

Volatility expanded sharply during the selloff, with the upper band reaching $2.66 and the lower band hitting $2.47. Price has since remained near the lower band, suggesting continued bearish pressure. A move back above the middle band (around $2.56) could signal a short-covering rally, but the current position near the lower boundary implies caution in the near term.

Volume & Turnover

Volume spiked dramatically during the 18:45–19:00 ET period, with a single 15-minute candle accounting for 4.4 million XRP ($11.5 million in turnover). This coincided with a sharp drop from $2.56 to $2.50. However, volume during the subsequent selloff (from $2.50 to $2.4484) was relatively muted, suggesting reduced conviction. The divergence between price and volume could indicate a possible short-term bounce, though bearish sentiment remains intact.

Fibonacci Retracements

Fibonacci levels drawn from the key 15-minute swing high ($2.6318) and swing low ($2.4484) show critical retracement levels at $2.539 (38.2%), $2.50 (50%), and $2.461 (61.8%). XRPUSDT has found support near the 50% level ($2.50) but failed to bounce meaningfully from there. A retest of the $2.539 level could be a potential target for short-covering and a temporary reversal. On the daily chart, the 61.8% retracement from the broader October high-low swing is near $2.48, which could be a potential short-term support.

Backtest Hypothesis

The backtest strategy under consideration relies on two key technical signals: a bearish engulfing pattern and a 50-day moving average crossover to the downside. Both of these conditions were met during the selloff starting at $2.63 and again at $2.50–$2.49. However, the backtest engine is failing to recognize the price series for "XRPUSD.UDC," which is likely due to an identifier mismatch or data source incompatibility. This issue can be resolved by using a more widely recognized ticker such as "XRPUSDT.BINANCE" or "XRPUSD.COINBASE," which are more likely to be supported by the engine’s data feed. If that is not preferred, a custom backtest in Python can be built, though it would take longer and lack the charting features of the standard engine. The signals identified in the past 24 hours suggest the strategy would have triggered sell signals at key points in the selloff.