XRP Price Stabilizes Near Key Support as Institutional Traders Accumulate Amid Selling Pressure

XRP faced renewed selling pressure between October 16–17, slipping 2% from $2.41 to $2.36 as institutions trimmed exposure following a volatile mid-month stretch. Daily trading volume surged past $150 million, signaling heightened activity as long-term holders reduced their positions by 34% in two weeks. The Hodler Net Position Change fell sharply from 163.7 million to 107.8 million XRP, indicating rotation out of existing holdings as investors recalibrated risk.

Despite the downturn, derivative market signals turned constructive. Open interest rebounded to $1.36 billion, suggesting traders are rebuilding long exposure after the recent market flush. Analysts interpret the uptick in activity as early signs of accumulation ahead of quarter-end speculation on potential ETF developments and a softer macroeconomic outlook.

Over the past 24 hours, XRP traded within a $0.16 range between $2.31 and $2.47, showing 7% intraday volatility. Heavy selling from 14:00–20:00 pushed the token as low as $2.29 before a swift recovery into the U.S. close. Strong spot demand emerged near $2.31, with algorithmic buying supporting the rebound. However, repeated rejection near $2.47 highlights persistent supply pressure from short-term profit-takers.

Technical metrics show XRP consolidating between $2.31 and $2.47, with $2.35 acting as a critical pivot zone where volume clusters hint at institutional accumulation. A decisive breakout above $2.47 could open a path toward $2.55, potentially confirming a short-term bullish reversal. Funding rates have turned slightly positive, reflecting fading short interest, while momentum indicators suggest the token remains in a neutral-to-oversold condition.

Traders continue monitoring the $2.31–$2.35 support band for signs of buyer defense, $2.47 for breakout validation, and evolving ETF headlines as potential catalysts for a broader Q4 recovery.