XRP’s three-week 16% drop from September 23 highs near $1.57 to $1.32 at press time on October 15 might be nearing its end, per the analysis shared by the popular trading expert Ali Martinez on X.
Specifically, the on-chain analyst claims to have identified a parallel channel that the cryptocurrency has been moving in and concluded the token might soon test a critical support zone.
Indeed, XRP might extend its latest losses to the lower boundary of the chart pattern it has formed – $1.25 – before bouncing from it. Should the level hold, the cryptocurrency is expected to rally toward $1.42 and potentially to as high as $1.60.
Under the circumstances, XRP might see an additional drop of 5.3% before soaring between 13.6% and 28% from the low – between 7.58% and 21.21% from the press time price of $1.32.
Cryptocurrency market crashes on September U.S. inflation data
Meanwhile, XRP has generally followed the wider cryptocurrency market throughout 2026, and the token’s latest 4% 24-hour drop mirrors the sector.
On October 24, numerous stocks, multiple commodities, and most large-cap digital assets fell sharply after news that U.S. inflation rocketed to 3.7% in September.
The CPI print shifted the risk profile of the economy and, after a period of uncertainty about the Fed’s next move, led to a temporary consensus that there would be at least three additional interest rate hikes by the end of 2027.
Notably, September also featured a 0.25% federal funds rate increase – the first such move since 2023.
Could Bitcoin weakness spoil the XRP rally?
Circling back to XRP, Ali Martinez is far from the only notable on-chain analyst to be bullish despite the recent correction.
For example, Michaël van de Poppe, a popular trading expert on X, also stated on October 15 that he estimates the ongoing altcoin downturn toward the asset-relevant support levels is likely to be short-lived, and he estimated that there will be a new rally later in the fourth quarter (Q4).
Still, he also assessed that Bitcoin (BTC) is showing significant weakness after its failure to break through $84,000. Considering how similarly BTC, XRP, and the wider market have been moving through 2026, continued sluggishness for the world’s premier cryptocurrency could bode ill for altcoins.
Similarly, the overall technical analysis (TA) that Finbold retrieved from TradingView on October 15 is substantially more bearish regarding XRP than Martinez.
Whether based on the previous 30, 7, or one day in the cryptocurrency market, the token is rated as either a ‘Sell’ or a ‘Strong Sell’ by moving averages (MA) and the cumulative recommendation, though oscillators notably remain fixed on ‘Neutral.’
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