XRP Faces Potential Drop to $0.98 if $1.26 Support Breaks
Crypto analyst Ali Martinez warned on October 24, 2026, that XRP could see further declines if large investors continue selling. A break below the critical $1.26 support level could lead to a drop to $1.11 and potentially $0.98, while on-chain data shows a reduction in holdings by large wallets.
XRP could drop to $0.98 if the $1.26 support level breaks.
Wallets holding 10-100 million XRP decreased from 351 to 339.
XRP holdings on exchanges increased by 50 million tokens to 11.05 billion XRP.
Nearly 78% of top traders on Binance are betting on XRP price increases.
Story
Crypto analyst Ali Martinez warned on October 24, 2026, that XRP could see further declines if large investors continue selling. Martinez identified $1.26 as a critical support level, representing the lower boundary of a price channel XRP has been in since August. A break below $1.26 could lead to a drop to $1.11, with a potential ultimate target of $0.98, which is approximately 22% below $1.26. On-chain data shows a decrease in the number of wallets holding 10 million to 100 million XRP, from 351 to 339 in recent weeks, suggesting some large investors may be reducing their exposure. Additionally, XRP holdings on exchanges have increased by about 50 million tokens, from 11.003 billion to 11.05 billion XRP, indicating a potential increase in selling pressure if these tokens are transferred for sale. Despite this, data from Coinglass shows that nearly 78% of top traders on Binance with open XRP positions are betting on price increases. The potential breakdown of a key support level for XRP, coupled with observed selling by large holders and increased exchange balances, could signal further price depreciation. However, the contrasting long positioning by top traders on Binance suggests a divided market sentiment.
Issue context
The cryptocurrency market is experiencing a period of correction, with Bitcoin falling below the psychologically significant $80,000 mark. This movement is accompanied by substantial outflows from US-listed spot Bitcoin ETFs, indicating a general risk-off sentiment among investors. Despite these short-term declines, institutional developments continue to highlight the market's long-term potential. Franklin Templeton plans to launch two innovative Bitcoin ETFs with a dividend reinvestment feature, which could offer traditional investors a novel way to gain Bitcoin exposure.
Current market movements indicate increased volatility and uncertainty. Pay attention to the development of key support and resistance levels for Bitcoin and altcoins. ETF outflows and technical indicators suggest short-term selling pressure, while positive funding rates in the derivatives market might indicate an underlying long bias. Stay informed about macroeconomic factors and institutional developments influencing market sentiment.
Market pulse
Fear & Greed
50
Neutral
BTC Funding
+0.0065%
20 perp markets · Open Interest $53.1B
BTC Open Interest
$53.1B
24h volume $47.3B · basis +0.042%
ETH Funding
+0.0032%
20 perp markets · Open Interest $34.6B
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This story is part of the Biturai Market Brief and is for informational purposes only. No investment advice.