XRP News Today: XRP's $2.68 Support: Bearish Breakdown or Bullish Rebound?

Veteran trader Peter Brandt has positioned XRP as a potential short candidate, citing a classic descending triangle pattern on the token's daily chart. The formation, identified in multiple analyses, suggests a bearish continuation if XRP closes below a key support level of $2.68743 TheCryptoBasic^[1]. At press time, XRP traded near $2.85, meaning a 6% decline could trigger a deeper correction toward $2.22163, representing a 21% drop from current levels CoinNews.com^[2]. Brandt emphasized that the breakdown confirmation hinges on the completion of this technical structure, a scenario he described as a "classic continuation pattern" Yahoo Finance^[3].

Market sentiment and on-chain data reinforce the bearish outlook. Santiment reported that negative sentiment toward XRP reached a six-month high as of October 2025 TheCurrencyAnalytics.com^[4]. Concurrently, Google search interest in XRP fell to a three-month low in late September, indicating reduced retail engagement BeInCrypto^[5]. On-chain metrics further highlighted distribution activity from mid-level holders-wallets containing 1 million to 10 million XRP-whose share of the total supply dropped from 10.76% in September 2025 to 10% in early October 2025 CoinPedia.org^[6]. This sell-off, observed after a year of accumulation, could signal profit-taking or waning confidence, potentially amplifying downward pressure on the token.

Contrarian signals emerged as well. While Santiment noted that extreme negative sentiment often precedes rebounds, the combination of low retail interest and mid-tier distribution suggests the downside scenario remains more probable TheCryptoRepublic.com^[7]. Additionally, over 320 million XRP moved to exchanges in the week ending October 2025, pushing exchange reserves toward nine-month highs TheCoinRepublic.com^[8]. This activity, coupled with bearish RSI divergence on weekly charts, underscores the fragility of XRP's current price structure.

Brandt's bearish stance contrasts with some market participants. Analyst Egrag Crypto argued that XRP had already bottomed, pointing to an inverted descending triangle as a potential bullish catalyst TheCryptoBasic^[9]. Meanwhile, CasiTrades identified consolidation patterns and suggested XRP could break out to $4.50–$6.50, with long-term targets at $8–$13 CoinNews.com^[10]. These divergent views highlight the uncertainty surrounding XRP's near-term trajectory.

The token's broader context remains mixed. While XRP's market capitalization ($177 billion) trails BNB's ($178 billion), the altcoin market's total value hit a record $1.19 trillion in October 2025 BeInCrypto^[11]. However, XRP's performance has lagged behind Bitcoin and Ethereum, with its 2024 gains at 34% compared to Bitcoin's multi-year rally. A potential XRP ETF, which briefly fueled optimism in mid-2025, has yet to drive sustained momentum CoinPedia.org^[12].

For now, the $2.68 support level remains a critical pivot. A sustained break below this threshold would validate Brandt's bearish thesis, while a rebound above $3.00 could invalidate the descending triangle and reignite bullish momentum TheMoonShow.com^[13]. Traders and investors are closely monitoring this juncture, as XRP's next move could determine whether it stabilizes or enters a deeper corrective phase.