XRP News Today: XRP's $2.40 Showdown: Macro Pressures vs. Institutional Optimism

XRP's price action has drawn significant attention as the token tests the $2.40–$2.42 support zone following a 6% intraday volatility swing. Recent data indicates a sharp decline driven by macroeconomic pressures and broad crypto deleveraging, with open interest in derivatives markets dropping by 50% to $4.22 billion. Despite this downturn, spot trading volumes surged 40%, signaling potential institutional re-entry into the asset XRP Tests $2.40 Base After 6% Swing; Eyes $2.65 Breakout Level^[1].

The $2.40 level has become a critical battleground for bulls, with buyers repeatedly defending the zone amid volatile conditions. Technical analysis highlights the importance of this support, as a sustained break below $2.40 could trigger further declines to $2.33 and $2.25. Conversely, reclaiming $2.53 could re-establish a path toward the $2.65 breakout level. Volume metrics show accumulation at the lows, with a 179.4 million XRP trade at 13:00 validating buying interest XRP Tests $2.40 Base After 6% Swing; Eyes $2.65 Breakout Level^[1].

Analysts have offered divergent perspectives on XRP's near-term trajectory. EGRAG Crypto assigns a 70% probability to a price correction toward $2.35–$2.40 before a sustained uptrend, emphasizing structural benefits of mean reversion. Meanwhile, CrediBULL Crypto argues that short-term weakness does not negate a long-term bullish setup, noting that a $2.40 test could act as a buying opportunity if Bitcoin dips below $105,000 XRP Price Eyes $2.40 Correction Before Resuming Rally as …^[2]How Low Will XRP Price Go? - Coinpedia^[3].

Market dynamics are further influenced by regulatory developments and institutional inflows. Bloomberg's Eric Balchunas confirmed 100% certainty for altcoin ETF approvals in the U.S., a catalyst that has driven $93.1 million in XRP product inflows between Sept. 22 and 26. ProShares' upcoming XRP futures ETF launch on April 30, 2025, is also generating optimism, with analysts citing parallels to Bitcoin's ETF approval timeline XRP Price Prediction: XRP Targets $2.40 …^[4].

On-chain data reflects mixed signals. While centralized exchange balances have declined, indicating long-term holder confidence, XRP faces immediate resistance at $2.72. A break above this level could confirm a new upward leg, but failure to clear it may trap the token in a $2.00–$2.30 accumulation range. Retail activity remains subdued, with active XRP addresses falling 76% from a peak of 109,000, raising questions about retail-driven momentum .

The XRP Ledger's recent partnership with Immunefi to test its lending protocol via a $200,000 Attackathon underscores institutional confidence in the network's security. This initiative, running from Oct. 27 to Nov. 24, aims to identify vulnerabilities in the proposed lending infrastructure, reinforcing trust in the ecosystem XRP’s $2.40 Support at Risk Amid Bitcoin’s Comeback^[6].

Traders are closely monitoring three key factors: the durability of $2.40 support through Asia's open, signs of re-leveraging after derivatives open interest halved, and volume follow-through above $2.50 to confirm accumulation. Meanwhile, macroeconomic risks tied to trade-war rhetoric and Federal Reserve policy remain critical volatility drivers XRP Tests $2.40 Base After 6% Swing; Eyes $2.65 Breakout Level^[1].