XRP News Today: XRP Meets Brandt's Bear Target Amid Bullish Rebound Hopes

Veteran trader Peter Brandt's bearish prediction for XRP has materialized as the token briefly fell to his target of $2.22 after breaking critical support levels. The decline, driven by a descending triangle pattern identified by Brandt, aligns with broader market volatility and on-chain indicators of waning demand TheCryptoBasic^[1]. XRP's price action confirmed the technical setup, with the token dropping from a recent peak of $3.10 to test $2.68 support before retreating further TheCoinRepublic^[2].

Brandt's analysis, based on classical technical patterns outlined by Edwards and Magee, highlighted a descending triangle forming since July 2025. The pattern's lower boundary converged at $2.68, and a weekly close below this level triggered the bearish scenario. "If it closes below 2.68743, then I'll be a hater," Brandt stated, projecting a 20% correction to $2.22 TheCurrencyAnalytics^[3]. Santiment data corroborated the bearish sentiment, with XRP's Fear, Uncertainty, and Doubt (FUD) metric hitting a six-month high, historically preceding rebounds but currently signaling caution Econotimes^[4].

On-chain metrics added to the bearish narrative. Over 320 million XRP moved to exchanges in the week prior to the breakdown, pushing exchange reserves toward nine-month highs. Mid-level holders (wallets holding 1–10 million XRP) began selling after a year of accumulation, reducing their share of the total supply from 10.76% in September 2025 to 10% by early October TheCryptoBasic^[5]. This distribution pattern, combined with weak retail demand (reflected in declining Google Trends interest), suggests a shift in market dynamics Econotimes^[4].

XRP's market cap, currently at $177 billion, now trails BNB's $178 billion, underscoring the token's vulnerability to further downward pressure. A sustained break below $2.22 could extend the correction, while a rebound above $2.94 might invalidate the bearish triangle and rekindle bullish momentum TheCoinRepublic^[2]. However, such a scenario would require a reversal in both technical and sentiment metrics.

Contrarian views exist. Analysts like CasiTrades and Ali Martinez argue that XRP's consolidation near $3.00 could lead to a "Wave 3" breakout under Elliott Wave Theory, with potential targets at $4.00–$4.50 and $3.60, respectively TheCoinRepublic^[2]. These bullish scenarios hinge on a clean break above $3.15, which would invalidate the descending triangle and shift focus to higher resistance levels. Meanwhile, Professor Astrones has also suggested a "pumpy" setup for XRP, projecting a $5 target TheCryptoBasic^[1].

The recent market turmoil, including a $708 million liquidation event on October 11, 2025, further complicated XRP's trajectory. The correction, triggered by global macroeconomic headwinds and Trump's 100% tariff announcement on Chinese imports, saw XRP plunge to $1.37 before stabilizing near $2.44 . While these events were external to Brandt's technical analysis, they accelerated the token's movement toward his bearish target.

Key levels remain critical for XRP's near-term outlook. A retest of $2.68 will determine whether the descending triangle holds or if further downside is inevitable. Conversely, a sustained close above $2.94 could spark a reevaluation of the bearish scenario. Traders and investors are closely monitoring these thresholds, with on-chain activity and regulatory developments-such as the ongoing Ripple-SEC lawsuit-adding layers of uncertainty .