XRP loses $1.40 support as traders cut leverage before Evernorth XRPN listing
Today’s XRP price forecast indicates a -1% decline to $1.39, diverging from a slightly positive broader market. The drop was driven by deleveraging ahead of the Evernorth XRPN Nasdaq listing on October 12. Trading volume fell -53% in 24 hours to $693M. XRP futures open interest declined -8.6% over the week, signaling long-position reductions and de-risking. Forced liquidations can amplify selling and create feedback loops. Bitcoin rose +0.5% and total market cap was flat while XRP weakened, with no new upside catalysts over the weekend.
XRP: Key Levels and Catalyst Watch
XRP is testing support at $1.37. A hold could enable a rebound toward the 7-day SMA at $1.45. A breakdown below $1.37 opens $1.32 as the next support. Bias stays bearish below $1.45. The Evernorth XRPN Nasdaq debut on October 12 is the next identifiable catalyst. Market focus: whether the listing generates incremental demand for XRP or triggers sell-the-news. Watch $1.37 during XRPN trading; a failure could accelerate downside.
Context: Rotation Risk and Alternative Narratives
Portfolio rotation from XRP into early-stage tokens increases exposure to development, liquidity, and execution risks. Bitcoin Hyper ($HYPER) markets itself as a Bitcoin Layer 2 with Solana Virtual Machine integration, aiming for smart-contract capability and higher throughput while anchoring to Bitcoin security. The presale price is $0.0136872 with over $33M raised. Claims include SVM integration and throughput greater than Solana, which require validation through public testnet and mainnet benchmarks. Disclosures and technical documentation should be reviewed to assess feasibility, security assumptions, and bridging architecture.
Authors credited by the source: Daniel Francis
Published by Holder based on an external source.
