What Happens Now That The XRP Price Has Revisited The October 10 Lows?
XRP is again at a degree merchants bear in mind all too nicely. The cryptocurrency suffered a pointy flash crash on October 10 that despatched the worth crashing down from $2.82 to $1.58 earlier than an equally quick rebound towards $2.36. Months later, that very same zone is again in play, however this time with out the volatility spike or instant restoration that characterised the sooner transfer.
At the time of writing, XRP is buying and selling round $1.44, down 10.4% over the previous 24 hours. This sustained selling pressure has pushed the XRP worth again into the flash crash low, and the following query is about what happens from here.
Why The October 10 Wick Low Matters So Much
According to a technical analysis accomplished by crypto analyst Hov on the social media platform X, the October 10 wick low has been probably the most necessary structural ranges to carry on XRP’s weekly candlestick timeframe chart.
During the October 2025 flash crash, the XRP worth registered a low of round $1.58, which acted as a panic excessive the place the XRP worth snapped again shortly as soon as compelled liquidations have been cleared. However, the present scenario appears completely different. XRP has now revisited and barely undercut that wick low through real bearish trading, and as famous by crypto analyst Hov, issues are beginning to form up.
Hov’s technical evaluation framework locations XRP within the closing levels of an expanded flat correction, with the present decline forming the C-wave. Notably, the analyst is monitoring an ending diagonal throughout the C-wave. This is as a result of ending diagonals are recognized for overlapping worth motion, compressed ranges, and false breakdowns that may shake out late sellers.
If the construction holds, then XRP might transition into a stabilization phase and a possible reversal sequence. If it fails, then the corrective phase is not yet complete.
$1.43 Is The Line That Changes Everything
The most necessary factor to notice going ahead is how XRP reacts at $1.43 on the weekly timeframe. Technical evaluation exhibits that that is the extent XRP should maintain to maintain the present construction intact. An in depth under $1.43 would invalidate the ending diagonal thesis and shift the outlook decisively bearish. In the analyst’s phrases, that’s the place “issues get actual ugly actual fast.”
The bullish scenario laid out on the chart additionally depends upon XRP managing to carry above this $1.43 space. In that case, the projection exhibits the worth stabilizing at this assist earlier than reversing greater and ultimately going into a robust rebound.
Under this outlook, XRP can be coming into an Impulse Wave V inside a bigger Elliott Wave construction. If that impulse performs out as anticipated, the chart factors to long-term upside worth targets stretching as high as $5.53.
