XRP is trading near $2.19, with technical analysts engaged in a debate regarding whether the digital asset will ascend toward ambitious price targets or face a deeper correction as conflicting patterns emerge across multiple timeframes.
The token is holding above $2.15, and its market capitalization has reached $132 billion, maintaining its position as the third-largest cryptocurrency. Trading activity remains robust despite mixed signals from technical indicators and on-chain metrics.
According to ChartNerd, on X, XRP displays a distinctive five-wave staircase formation dubbed the "Staircase To Valhalla." The analysis identifies a Wyckoff Accumulation pattern projecting potential movement toward the $15 level, representing roughly a sixfold increase from current prices around $2.25.
The technical breakdown indicates that XRP completed its initial accumulation phase near $0.40 before surging above $2.00. The structure is currently consolidating between $2.00 and $3.00, appearing to be in a re-accumulation phase.
ChartNerd's projection suggests that this pattern mirrors earlier accumulation zones that preceded strong rallies.
Current support is holding at $1.93, while resistance is clustered around the $3.00 threshold. The vertical expansion arrow on the chart points toward $15.00 as the measured move target if the pattern completes successfully.
Exchange Reserves Hit Yearly Lows
Binance reserves have dropped to 2.7 billion XRP, marking the lowest level in over a year, following the departure of approximately 300 million tokens from the platform since October.
This outflow signals accumulation by long-term holders, even in the face of short-term price weakness.
ETF products from Franklin Templeton and Grayscale have posted three consecutive sessions of net inflows. However, institutional demand has not yet reversed the broader technical deterioration.
The disconnect between supply tightening and price action suggests that underlying accumulation may provide support for future rallies.
Derivatives markets show balanced positioning. Data reveals a 24-hour long-short ratio near 1.0064, indicating that neither bulls nor bears hold decisive control. Open interest has climbed to $4.08 billion with a 1.89% increase, while options open interest recorded a 10.81% rise.
Liquidations reached $4.59 million across 24 hours, distributed between long and short positions. The relatively modest liquidation volume suggests that leverage remains contained compared to previous volatile periods.
Death Cross Intensifies Bearish Pressure
XRP has fallen below $2.20 as a daily death cross has renewed selling pressure, creating technical headwinds that could accelerate correction into December.
A death cross forms when the 50-day moving average crosses below the 200-day average, typically signaling prolonged downward pressure.
The price was rejected at resistance in the $2.23-$2.24 zone, confirming a descending channel that has guided movement for the past two weeks.
The Relative Strength Index (RSI) has failed to reclaim the midline on every bounce attempt, indicating persistent selling pressure, while the Moving Average Convergence Divergence (MACD) continues to drift deeper into negative territory.
The breakdown from $2.22 to $2.18 established a series of lower highs at $2.185, $2.180, and $2.178. All major short-term moving averages are now trading above the current price, with the 50-day average slope accelerating downward.
Historical patterns suggest that the death cross configuration typically precedes extended weakness rather than immediate reversals.
However, improving on-chain flows and steady ETF inflows suggest that mid-term accumulation is continuing beneath the bearish surface conditions.
Trading volume reached $2.72 billion across 24 hours, according to current data. The circulating supply is holding near 60.33 billion tokens, with a fully diluted valuation at $217.46 billion based on the maximum supply of 100 billion XRP.
The $2.17-$2.18 zone now serves as the critical decision point. Breaking below this shelf exposes the $2.08 level, followed by broader support near $1.90. Chart analysts identify this lower region as the boundary separating routine correction from deeper retracement.
For bullish continuation, XRP must reclaim $2.20 and break through $2.23-$2.24 with expanding volume. Without both conditions met, any bounce is likely to remain corrective within the descending channel structure.
The Wyckoff pattern identified by ChartNerd requires the current consolidation zone to hold for the expansion phase to activate.
A breakdown below the $1.93 support level would invalidate the bullish scenario and could potentially trigger more aggressive selling toward lower support zones.