XRP/Tether (XRPUSDT) Market Overview – 2025-10-24

• XRPUSDT opened at $2.4113 and closed at $2.4793, rising 3.24% with a 24-hour high of $2.5146
• Price surged past key resistance near $2.46–$2.47 before consolidating within Bollinger Bands
• MACD flipped bullish, and RSI climbed into overbought territory post-15:30 ET, signaling potential continuation
• Volume spiked 2.6x above the 24-hour average during the breakout, validating the upward move
• Strong correlation between volume and price action suggests accumulation by larger players

At 12:00 ET on October 23, XRP/Tether (XRPUSDT) opened at $2.4113 and closed at $2.4793 by 12:00 ET October 24, reaching a high of $2.5146 and a low of $2.3784. The 24-hour trading volume was 52.9 million XRP, with a total notional turnover of approximately $129.3 million. Price action showed a breakout above $2.46 and $2.47, supported by rising volume and momentum indicators.

Structure & Formations

The candlestick formation on the 15-minute chart reveals a clear bullish bias, especially after 08:00 ET. A key resistance level at $2.46–$2.47 was decisively broken at 13:30 ET, confirmed by a bullish engulfing pattern. Later, a doji at $2.5146 during 13:45 ET hinted at a brief consolidation. A 38.2% Fibonacci retracement level at $2.445 offered temporary support, which was then taken out as buying pressure intensified.

Moving Averages & Momentum

On the 15-minute chart, the 20-period and 50-period moving averages both crossed above the price around 08:00 ET, confirming a trend reversal. By 14:30 ET, the 20SMA had moved into a bullish slope, aligning with the 50SMA, a classic buy signal. Meanwhile, the 200-period daily MA remains below current price levels, suggesting a potential for further upside.

The MACD crossed into positive territory at 09:00 ET and stayed there until the close, indicating sustained momentum. RSI climbed into overbought territory (above 70) after 15:30 ET but failed to trigger a bearish divergence, suggesting strong demand.

Bollinger Bands & Volatility

Volatility expanded significantly following the breakout above $2.46, with price spending most of the session outside the upper Bollinger Band. The bands themselves widened after 09:00 ET, signaling increased market activity. Price has since traded within the bands but remains near the top 70% range, suggesting a continuation of the bullish move.

Volume & Turnover

Volume surged to a 24-hour peak during the 13:30–14:15 ET window, with a 2.6x increase over the average. Notional turnover also spiked during this time, confirming the price action. A notable divergence appears at 14:30 ET, where volume dipped slightly while price continued higher—this may signal short-term profit-taking or exhaustion.

Fibonacci Retracements

Key Fibonacci levels played a significant role in today’s action. The 38.2% level at $2.445 acted as support, while the 61.8% level at $2.485 was a minor resistance. Price cleared the 61.8% level during the final hour, indicating strong conviction from buyers. The 23.6% retracement at $2.419 was tested but not broken, suggesting this area could offer support on a pullback.

Backtest Hypothesis

Given the recent bullish momentum and valid MACD crossover at 09:00 ET, a simple strategy—long on a MACD golden cross and exit on a bearish divergence—could be tested. The backtest engine reported an error retrieving price data, but a manual approach can validate this hypothesis by evaluating the 5-day return from the golden cross point (09:00 ET). If successful, this would confirm the strategy’s potential to profit from the current bullish trend. A retrial using the event-based back-test engine with the XRPUSDT ticker is recommended to confirm this approach.