XRP is again at a stage merchants bear in mind all too properly. 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 speedy restoration that characterised the sooner transfer.
On the time of writing, XRP is buying and selling round $1.44, down 10.4% over the previous 24 hours. This sustained promoting stress has pushed the XRP worth again into the flash crash low, and the following query is about what occurs from right here.
Why The October 10 Wick Low Issues So A lot
Based on a technical evaluation carried out 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.
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Throughout 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 rapidly as soon as pressured liquidations have been cleared. Nevertheless, the present state of affairs appears completely different. XRP has now revisited and barely undercut that wick low by actual bearish buying and selling, and as famous by crypto analyst Hov, issues are beginning to form up.
Hov’s technical evaluation framework locations XRP within the ultimate 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. It is because 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 right into a stabilization part and a possible reversal sequence. If it fails, then the corrective part just isn’t but full.
$1.43 Is The Line That Adjustments The whole lot
A very powerful factor to notice going ahead is how XRP reacts at $1.43 on the weekly timeframe. Technical evaluation reveals that that is the extent XRP should maintain to maintain the present construction intact. An in depth beneath $1.43 would invalidate the ending diagonal thesis and shift the outlook decisively bearish. Within the analyst’s phrases, that’s the place “issues get actual ugly actual fast.”
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The bullish state of affairs laid out on the chart additionally is dependent upon XRP managing to carry above this $1.43 space. In that case, the projection reveals the worth stabilizing at this assist earlier than reversing increased and ultimately going into a strong rebound.
Beneath this outlook, XRP could 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 excessive as $5.53.
Featured picture from Adobe Inventory, chart from Tradingview.com
