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XRP has extended its decline, trading near $2.26 on October 17 after dropping almost 2.84% on the Bitstamp exchange. The token opened at $2.32, reached a brief high of $2.40, and later fell toward $2.19. This move signaled continued weakness within a descending price channel as sellers maintained control across key technical levels.
The existing arrangement is characterized by a downward trend contained within parallel downward-slanting lines. The recent candles of Ripple are stuck in this bearish channel, indicating the existence of strong selling pressure. The prices are having a hard time recovering beyond short-term resistance areas because the momentum remains skewed towards the negative.
The Fibonacci retracement analysis indicates some critical breakdown at the 0.618 level and at the 0.786 level around 2.50 and 2.75, respectively. The extension of 1.0 at the price of 2.18 is now immediate support. A further decline would reveal the 1.414 extension at 1.57, which is a potential next level in case of bearishness.
There is a Fair Value Gap (FVG) range of between 2.60 and 2.75 that is not filled. The fact that the market has been unable to regain this area means that there is an imbalance that will limit short-term recoveries.
The Relative Strength Index (RSI) is at 29.86, which is an indication of being in the oversold state. Even though there is a slight recovery that has reached 39.56 on the moving average, XRP has weak upward energy. The indicator shows high downside momentum that can possibly continue without a reversal. Could the oversold reading attract enough buyers to reverse this trend?
While XRP struggles, Ripple Labs is pursuing fresh capital through a $1 billion fundraising effort. The initiative involves a special-purpose vehicle (SPV) designed to accumulate XRP holdings. Bloomberg reported that the funding round will occur via a special-purpose acquisition company (SPAC) under a digital-asset treasury (DAT) structure. Ripple also intends to contribute part of its XRP reserves to the venture.
In the same week, Ripple announced the acquisition of GTreasury, a corporate treasury software provider, for $1 billion. The acquisition follows Ripple’s earlier purchases of Rail, a stablecoin payments firm, and Hidden Road, a prime brokerage platform. These deals reflect Ripple’s strategy to expand its financial services portfolio amid volatile crypto market conditions.
GTreasury’s platform, widely used by Fortune 500 companies, helps manage cash, foreign exchange, and risk operations. Ripple stated that the platform will integrate with its existing suite of blockchain-based financial tools. This move positions Ripple to serve large-scale enterprises seeking modern treasury management and liquidity solutions.
At press time, XRP trades near $2.20, marking a 7.5% daily loss. The coin’s technical setup shows limited recovery signals as long as the bearish channel holds. Traders now monitor whether XRP can regain the FVG region near $2.60–$2.75 or slide toward $1.80 support.
Ripple’s expansion and billion-dollar initiatives highlight corporate momentum, yet XRP’s chart suggests continued caution.
XRP is still subject to a lot of selling action and is near the 2.20 mark following a severe fall after hitting highs in the recent past. The technical indicators are pointing at a continuation of the bearish momentum, with the main support point of 2.18 and the main resistance levels of 2.75. Ripple Labs continues, meanwhile, with a 1billion SPAC fund and a 1billion GTreasury acquisition, as the company is confident in blockchain-based financial solutions in the long term.
Related: XRP News Today: XRP Holds at $2.43 as Ripple’s RLUSD Nears $1B Breakthrough
