XRP Holds Steady at $1.39 as Crypto Market Faces Heavy Liquidations

XRP demonstrated resilience on Friday, trading near $1.3947 despite widespread cryptocurrency losses and more than $1 billion in market liquidations. While several major altcoins declined between 5% and 12%, XRP limited its losses to approximately 1%–2%, maintaining a 3.14% share of the total crypto market.

Technical indicators suggest XRP remains relatively stable following September's correction. Its moving average near $1.2796 provides important support, while the daily Relative Strength Index (RSI) has returned to neutral territory, indicating reduced selling pressure.

Several developments within the XRP ecosystem are supporting investor confidence. The XRP Ledger recently activated its institutional account delegation feature, strengthening security and operational flexibility for financial institutions.

Meanwhile, Evernorth's anticipated Nasdaq listing under the ticker XRPN on October 12 could attract additional institutional interest. The transaction involves approximately 473 million XRP valued at $660 million. Investors are also monitoring the pending XRPL Batch upgrade, expected to activate on October 9.

Institutional demand remains another positive factor. According to SoSoValue, U.S. spot XRP exchange-traded funds recorded $8.17 million in net inflows on October 8, primarily through Franklin Templeton's XRPZ fund.

XRP investment products have reportedly attracted inflows for 12 consecutive weeks, bringing cumulative inflows to $1.81 billion, surpassing Solana ETFs' $1.59 billion. Meanwhile, Bitcoin and Ethereum ETFs experienced outflows of $244.13 million and $72.54 million, respectively.

The broader cryptocurrency market faced intense selling pressure after reports that U.S. authorities transferred 17,733 Bitcoin, worth approximately $1.48 billion, to Coinbase Prime. The transfers fueled concerns about potential selling, although exchange deposits do not necessarily indicate liquidation.

CoinGlass data showed $1.06 billion in leveraged positions liquidated across 174,244 traders, with long positions accounting for most losses.

Bitcoin subsequently recovered toward $83,000 after briefly approaching $80,300, while Ethereum traded near $2,500 and Solana hovered around $110.

Looking ahead, traders are monitoring Bitcoin support at $82,000 and resistance near $83,683, with potential upside targets between $87,000 and $87,527.

For XRP, breaking above $1.4333 could strengthen bullish momentum and open the possibility of testing $1.55. However, broader market volatility and upcoming institutional developments remain critical factors influencing its next price movement.