XRP wipes out $16 billion in a week

XRP has erased $16.47 billion in market value over the past seven days, as its capitalization fell from $185.15 billion on October 3 to $168.68 billion by October 10, according to data retrieved by Finbold from ￰0￱ 7-day market cap.) still stands at $281.7 billion, suggesting traders continue to price in long-term utility and ETF speculation even as near-term flows ￰1￱ supply remains at 59.87 billion tokens, nearly 60% of the max 100 billion XRP supply, while the number of holders has ticked up to 478,000, evidence that retail and institutional wallets alike are continuing to accumulate despite price ￰2￱ chart analysis From a technical perspective, XRP defended the $2.78 support level, which aligns with the 78.6% Fibonacci retracement ￰3￱ Relative Strength Index (RSI) sits at 41.9, reflecting neutral momentum after a week of steady declines, while MACD’s negative histogram (-0.0068) highlights that bearish momentum is fading but not yet reversed.

A “ death cross ” pattern has also emerged, with the 30-day simple moving average slipping under the 200-day SMA, a historically bearish signal that tempers any immediate ￰4￱ participants now face a clear divergence in potential outcomes. A recovery above $2.90 could ignite short-covering, with $2.94, the 50% Fibonacci resistance level, as the next key target. conversely, a break below $2.72 could trigger cascading liquidations in leveraged positions, exposing XRP to deeper losses that may retest the $2.65 region.