XRP has erased $16.47 billion in market value over the past seven days, as its capitalization fell from $185.15 billion on October 3 to $168.68 billion by October 10, according to data retrieved by Finbold from CoinMarketCap.
The drop reflects a 7% weekly decline that has dragged XRP price to $2.81, even as the broader crypto market has held relatively steady.
The losses were concentrated after October 3, when the token briefly surged with a daily volume peak of $7.46 billion, before selling pressure mounted. Over the past 24 hours, trading volume has cooled to $4.92 billion, a 34% drop from last week’s high, as momentum shifted from aggressive speculation to cautious positioning.
XRP’s volume-to-market cap ratio sits at 2.93%, a level consistent with thinning liquidity compared to earlier in the quarter.
XRP price dynamics
Despite the pullback, XRP retains a significant presence in the market. Its fully diluted valuation (FDV) still stands at $281.7 billion, suggesting traders continue to price in long-term utility and ETF speculation even as near-term flows weaken.
Circulating supply remains at 59.87 billion tokens, nearly 60% of the max 100 billion XRP supply, while the number of holders has ticked up to 478,000, evidence that retail and institutional wallets alike are continuing to accumulate despite price volatility.
XRP chart analysis
From a technical perspective, XRP defended the $2.78 support level, which aligns with the 78.6% Fibonacci retracement zone. The Relative Strength Index (RSI) sits at 41.9, reflecting neutral momentum after a week of steady declines, while MACD’s negative histogram (-0.0068) highlights that bearish momentum is fading but not yet reversed.
A “death cross” pattern has also emerged, with the 30-day simple moving average slipping under the 200-day SMA, a historically bearish signal that tempers any immediate upside.
Market participants now face a clear divergence in potential outcomes. A recovery above $2.90 could ignite short-covering, with $2.94, the 50% Fibonacci resistance level, as the next key target. Conversely, a break below $2.72 could trigger cascading liquidations in leveraged positions, exposing XRP to deeper losses that may retest the $2.65 region.
