XRP rebounds 66% after 10-month low, regains $75B in market value

Ripple’s native cryptocurrency XRP has rebounded after plunging to a 10-month low of $1.58 on Friday. The third-largest coin by market cap has since rallied by 66%, recovering more than $75 billion in market value on Monday’s US market session start.

XRP was dragged down below $2 on Bitstamp when President Donald Trump’s tariffs on China bludgeoned crypto global markets and wiped over $20 billion, Cryptopolitan reported. The token has since regained much of its lost ground, trading at around $2.6 after climbing more than 3.5% in the last 24 hours.

According to Coingecko, the recovery has pushed XRP’s total market capitalization back to $154.75 billion, up 10.2% in the past two days. The bounce back has seen the token reclaim its 200-day simple moving average (SMA) at around $2.58, a technical indicator that had previously supported bulls territory during the April market pullback.

Whale activity started trading volume surge

On-chain data from Santiment shows XRP whale addresses sold between $40 million and $50 million worth of XRP daily, amounting to over $1.5 billion in liquidations over the past month. The mass selling intensified market pressure, contributing to XRP’s brief drop below $1.60 during Friday’s retreat.

However, renewed buying interest appears to have returned, with XRP’s daily trading volume ticking upwards more than 17% in the past 24 hours to $10.25 billion. 

On the derivatives market side, open interest across XRP perpetual and futures contracts climbed to $1.5 billion, a 3% increase in the last 24 hours. Futures positions did not see the same enthusiasm, tanking by 33%, meaning traders may be rotating toward perpetual instruments as volatility on the upside continues.

Another clear signal of changing sentiment is in Glassnode’s Spent Output Profit Ratio (SOPR), a metric used to gauge if investors are selling at a profit or loss. The SOPR for XRP fell to 0.95 after last week’s massive crash, its lowest reading in six months. 

A value below 1 means that most holders are selling at a loss, a pattern associated with market capitulation before a reversal.

The last time XRP’s SOPR dropped this low was on April 7, when the token traded near $1.90 before rebounding by 35% to $2.58 within a month. Analysts suggest a similar setup could be forming, with the current SOPR chart showing a potential price base near $2.38. Should the pattern repeat, XRP’s next upward target could come between $3.10 and $3.35.

Long-term holders reduce exposure

Between October 2 and October 12, wallet addresses holding XRP for extended periods decreased their holdings by 27% to take profits from 163.68 million to 119.16 million. At the same time, total trading volume in XRP-based contracts jumped more than 44% over the last 24 hours to $12.2 billion, according to Coinglass. 

XRP has managed to rise slightly above its 20-day simple moving average at $2.42, a level that has provided some short-term resilience. The Relative Strength Index (RSI) sits at 38.65, signaling that the token is approaching oversold conditions. According to some market watchers, such readings precede potential reversals if buying momentum increases.

Price levels to watch for investors are now between $2.70 and $2.80, an area that was previously its support and is now where bears have mounted their resistance. Per Glassnode, roughly 3.8 billion XRP were acquired within this price zone, a concentration of interest that could slow down upward momentum alongside further gains. 

Another resistance band lies between $2.88 and $2.95, where both the 50-day and 100-day SMAs converge. Some analysts believe XRP’s price movement above or below $2.50 will determine its short-term trajectory for the coming days. 

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