Key notes
- Bulls are concentrating $55 million in leveraged positions near $2.7, representing 58% of all active long contracts to avoid further decline.
- XRP liquidations totaled just $17 million, compared to Bitcoin’s $188 million, showing that traders covered their positions rather than facing forced exits.
- Technical analysis reveals a double bottom pattern forming between $2.6 and $2.8, with a potential rebound to $3.6 if resistance at $3.1 breaks.
Ripple
XRP
$2.80
24h volatility:
3.5%
Market capitalization:
$167.36 billion
Flight. 24h:
$5.39 billion
the price fell 3%, trading as high as $2.78 on October 9, reflecting the broader market slowdown as Bitcoin’s retreat from all-time highs triggered cascading selloffs. The correction dragged XRP below psychological support at $3, but trading data from derivatives exchanges indicates that bulls are aggressively covering their positions to avoid deeper losses.
Ripple (XRP) liquidation map as of October 9, 2025 | Source: Coinglass
According to Coinglass’ liquidation map, which tracks active leveraged positions deployed at key price levels, short traders dominated XRP activity on Thursday, with $146 million in short contracts open, compared to $95 million in long contracts. However, approximately $55 million of long leveraged contracts are clustered near $2.7, representing 58% of all active bullish leverage. Such a leverage cluster signals the intention to defend key price levels below that level.
Total crypto market liquidation, October 9, 2025 | Source: Coinglass
Overall market flows also emphasize the relative resilience of XRP. Market-wide liquidations exceeded $679 million, with Bitcoin
BTC
$121,436
24h volatility:
1.4%
Market capitalization:
$2.42T
Flight. 24h:
$68.00 B
and Ethereum
ETH
$4,355
24h volatility:
3.7%
Market capitalization:
$525.59 billion
Flight. 24h:
$41.92 billion
bulls suffer the biggest losses with $188 million and $181 million in long contracts liquidated, respectively.
Despite being the fifth largest cryptocurrency by market capitalization, XRP bulls have only lost $17 million in the past 24 hours, while small-cap assets like Dogecoin
DOGE
$0.25
24h volatility:
3.6%
Market capitalization:
$37.56 billion
Flight. 24h:
$2.99 billion
and Plasma (XPL) saw larger losses. This reflects XRP traders’ choice to cover their positions on Thursday, rather than keeping pace with the market sell-off.
Ripple (XRP) Price Forecast: Can Bulls Confirm Double Bottom Reversal?
From a technical perspective, XRP’s current price pattern reflects a developing double bottom formation between $2.6 and $2.8, often interpreted as a bullish reversal trend. The neckline is around $3.1, which also aligns with the midline 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 upward continuation towards XRP’s projected bullish price target at $3.6.
Ripple (XRP) Price Forecast | Trading View
Momentum indicators also provide a cautiously bullish backdrop. The Relative Strength Index (RSI) is currently hovering at 41, suggesting near-oversold conditions. This positioning generally favors a short-term rebound, especially when coupled with a squeeze on the Bollinger bands, signaling a potential expansion in volatility.
If the bullish leverage around $2.7 continues to hold, XRP could bounce towards $3.1 in the near term, followed by an attempted breakout towards $3.6.
Conversely, failure to hold the $2.7 support could invalidate the trend, increasing the risk of a breakout towards the lower Bollinger band below $2.50.
following
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with experience supporting various Web3 startups and financial organizations. He completed his undergraduate degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
