Overview
- XRP traded in a narrow $2.33–$2.44 range into Oct. 23, with buyers defending $2.33–$2.42 and traders watching for a break above $2.41–$2.45 to signal direction.
- Spot turnover and futures activity rose versus recent averages, with CoinGlass data showing higher open interest that suggests re‑entries rather than forced unwinds.
- On‑chain metrics flagged heavy whale deposits to exchanges in early October that typically imply selling pressure, while other data and flows indicate concurrent accumulation.
- Ripple co‑founder Chris Larsen moved 50 million XRP on Oct. 20, initially read as a sale, then clarified as a transfer to Evernorth, a Ripple‑backed venture.
- Multiple spot XRP ETF filings from managers such as Grayscale, Bitwise, CoinShares and WisdomTree await SEC decisions, as Evernorth’s reported $1 billion treasury plans, RLUSD growth and the REX‑Osprey XRP fund’s $100 million AUM milestone shape supply and liquidity narratives.