XRP price has been caught in the latest crypto market sell-off, and dropped more than 5% over the past 24 hours and traded near $1.41 at press time.
The weakness is not isolated to XRP. Bitcoin fell below $84,000 as crypto markets reacted to rising oil prices, higher U.S. Treasury yields, and a stronger dollar. More than $500 million in crypto positions were liquidated during the sell-off, adding another layer of forced selling to an already weak market.
For XRP, the decline has brought price back to an important short-term support area. The two-hour chart is deeply oversold, but momentum remains firmly bearish heading into October 8.
What you'll learn 👉
XRP Price Falls Back to $1.41 Support
XRP traded as high as roughly $1.51 over the past 24 hours before sellers took control.
The decline pushed the token toward $1.41, which now represents the first immediate support zone.
The chart shows a notable change in structure. XRP spent much of early October moving sideways around $1.48 to $1.52, repeatedly failing to build momentum above that range.
Once the lower edge gave way, selling accelerated.
Here are the main levels to watch:
| Level | Importance |
|---|---|
| $1.41-$1.42 | Immediate support and current price area |
| $1.38-$1.40 | Next support if $1.41 fails |
| $1.30-$1.33 | Stronger historical demand area |
| $1.45-$1.46 | First resistance on a rebound |
| $1.48-$1.50 | Former consolidation zone |
| $1.51 | Major short-term resistance |
The biggest problem for bulls is that XRP is now trading beneath the area where buyers repeatedly defended price earlier this month.
Recovering $1.45 would be the first small improvement. A move back above $1.48-$1.50 would be far more meaningful.
RSI and CCI Show XRP Is Deeply Oversold
Momentum indicators are extreme.
The chart’s shorter RSI readings have fallen to approximately 19.1 and 17.6. The longer RSI sits around 28.7.
All three readings place XRP in or close to traditional oversold territory.
CCI tells a similar story. It has dropped to around -152, well below the -100 level commonly associated with strong downside momentum.
This creates an interesting situation.
XRP is technically oversold enough for a relief bounce, but oversold conditions alone do not mean the decline has finished. During strong market-wide selling, RSI and CCI can remain depressed as price continues lower.
The first confirmation of a recovery would come from these indicators turning upward alongside XRP reclaiming $1.45.
Read also: XRP Price Warning: Trapped Under Heavy Supply
MACD Still Favors Sellers
MACD is considerably less encouraging.
The chart shows:
| MACD metric | Reading |
|---|---|
| DIF | -0.0188 |
| DEA | -0.0112 |
| MACD | -0.0152 |
The faster MACD line remains below the signal line, both are below zero, and the negative histogram has expanded.
That confirms bearish momentum remains active.
So there is currently a conflict between momentum indicators.
RSI and CCI say XRP is stretched heavily to the downside and could be due for a bounce.
MACD says sellers have not lost control yet.
That makes the $1.41 area especially important going into October 8.
Ripple Lands New South Korean Partnership
The price weakness comes despite positive news around Ripple.
Ripple and Meritz Securities have signed a strategic partnership to examine how Ripple Custody and Ripple’s tokenization infrastructure could be used in South Korea’s capital markets.
The companies plan to begin within the country’s existing securities rules and potentially expand their cooperation as South Korea develops its digital asset framework.
Meritz is also studying areas including tokenized securities, crypto ETFs, fractional investment products and won-denominated stablecoins. The agreement remains exploratory, so it does not confirm that XRP itself will be used in any future product. Seoul Economic Daily
The development adds to Ripple’s institutional expansion in Asia, even though it has not been enough to offset today’s broader crypto sell-off.
Grayscale Expands Its XRP ETF Infrastructure
There was also another institutional development involving XRP.
Grayscale has added Anchorage Digital Bank as an additional custodian for the Grayscale XRP Trust ETF, or GXRP. Coinbase Custody remains involved as the primary custodian.
GXRP has also introduced in-kind creations and redemptions.
This allows eligible authorized participants to deposit XRP directly in exchange for ETF shares or redeem shares for XRP instead of completing every transaction through cash.
The structure can make the creation and redemption process more efficient and reduces the fund’s dependence on a single custody provider. SEC filings confirm Anchorage was added under an amended custody agreement. SEC
Both the Ripple-Meritz partnership and the GXRP changes are constructive developments for XRP’s institutional ecosystem. For now, macro pressure is dominating price action.
XRP Price Prediction for October 8
With XRP around $1.41, three realistic scenarios stand out.
| Scenario | What could happen | Key XRP levels |
|---|---|---|
| Bullish | Oversold conditions trigger a relief recovery | $1.45, then $1.48-$1.50 |
| Neutral | XRP stabilizes after the sell-off and trades sideways | $1.40-$1.46 |
| Bearish | $1.41 fails and market-wide selling continues | $1.38-$1.40, potentially $1.30-$1.33 |
The bullish scenario becomes more credible if XRP holds $1.41, RSI begins recovering, and price retakes $1.45. From there, $1.48-$1.50 becomes the main target. Getting above $1.51 would be needed to erase much of the immediate bearish structure.
The neutral scenario would see XRP absorb today’s selling without producing a meaningful recovery. Price could spend October 8 moving between roughly $1.40 and $1.46 as traders wait for Bitcoin and the broader market to stabilize.
The bearish scenario remains a serious risk because MACD momentum is still negative. Losing $1.41 could expose the $1.38-$1.40 area. If selling accelerates again, the chart leaves considerably more room toward the $1.30-$1.33 region.
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For today, $1.41 is the level to watch.
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