XRP fell 3% on October 9, testing $2.78 as Bitcoin’s retreat triggered market-wide liquidations. Despite the downturn, trading data shows bulls defending critical support levels.
Ripple XRP $2.06 24h volatility: 1.0% Market cap: $124.11 B Vol. 24h: $4.15 B price tumbled 3%, trading as low as $2.78 on October 9, mirroring the broader market downturn as Bitcoin’s pullback from all-time highs sparked cascading liquidations. The correction dragged XRP below the $3 psychological support, but trading data from derivatives exchanges indicates that bulls are aggressively covering positions to prevent deeper losses.
Ripple (XRP) Liquidation Map as of October 9, 2025 | Source: Coinglass
According to Coinglass’ Liquidation map, which tracks active leverage positions deployed at key price levels, short traders dominated XRP activity on Thursday, with $146 million in open short contracts compared to $95 million in longs. However, around $55 million in leveraged long contracts are clustered near $2.7, accounting for 58% of all active bullish leverage. Such a large leverage cluster signals intent to defend key price levels below it.
Total Crypto market liquidation, Oct 9, 2025 | Source: Coinglass
Aggregate market flows also emphasize XRP relative resilience. Market-wide liquidations topped $679 million, with Bitcoin BTC $85 933 24h volatility: 0.7% Market cap: $1.71 T Vol. 24h: $69.54 B and Ethereum ETH $2 801 24h volatility: 1.1% Market cap: $338.10 B Vol. 24h: $23.38 B bulls taking the biggest losses with $188 million and $181 million in liquidated long contracts respectively.
Despite being the fifth largest cryptocurrency by market cap, XRP bulls lost only $17 million in the last 24 hours, while lower cap assets like Dogecoin DOGE $0.14 24h volatility: 0.1% Market cap: $21.99 B Vol. 24h: $1.48 B and Plasma (XPL) saw larger losses. This reflects XRP traders opting to cover their positions on Thursday, rather than keeping up with the pace of the broader market sell-off.
Ripple (XRP) Price Forecast: Can Bulls Confirm the Double-Bottom Reversal?
From a technical standpoint, XRP’s current price setup reflects a developing double-bottom formation between $2.6 and $2.8, often interpreted as a bullish reversal pattern. The neckline sits around $3.1, which also aligns with the mid-line of the Bollinger Bands (BB) and the 20-day simple moving average (SMA).
A decisive breakout above this level would validate the double-bottom signal and potentially trigger an upside continuation toward the projected bullish XRP price target at $3.6.
Ripple (XRP) Price Forecast | TradingView
Momentum indicators also provide a cautiously bullish backdrop. The Relative Strength Index (RSI) currently hovers at 41, suggesting near-oversold conditions. This positioning typically favors a short-term bounce, particularly when coupled with compression on Bollinger Bands signaling potential volatility expansion.
If bullish leverage around $2.7 continues to hold, XRP may rebound toward $3.1 in the near-term, followed by a breakout attempt toward $3.6.
Conversely, failure to sustain the $2.7 support could invalidate the pattern, raising the risk of a breakdown toward the lower Bollinger Band at $2.50.
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