XRP could be on the verge of posting its most bullish weekly candle ever, according to veteran investor Patrick L. Riley.

In a tweet earlier today, Riley noted that if XRP closes the week tomorrow (Sunday) at $3.1150, it would mark the most bullish weekly candle in the token’s history. The statement suggests this development could make the current week one of XRP’s most significant in terms of gains.

The observation comes amid a sudden overnight bloodbath in the crypto market, during which several assets, including XRP, Bitcoin, and Ethereum, experienced flash crashes, plunging to historic lows before swiftly recovering.

XRP Dipped 56% in One Day

Specifically, XRP’s price plummeted to $1.2543 on Binance, down from daily highs of $2.8372. This represented a dramatic 56% flash crash within a 24-hour window.

During the same period, Bitcoin dropped from $122,550 to as low as $102,000, a level last seen in June. Other altcoins, like SUI, suffered even more devastating losses, plunging from $3.47 to $0.5597, nearing their all-time lows—all within just 24 hours.

The dramatic collapse in prices followed President Trump’s announcement of new tariffs on China. The announcement triggered $19 billion in liquidations across the derivatives market and wiped out $1.65 trillion from the U.S. stock market.

Despite the market turmoil, analysts like Riley are pointing to a potentially historic rebound for XRP.

XRP Set to Mark Most Bullish Weekly Candle in History?

After crashing to $1.25, XRP has rebounded approximately 100% to a current price of around $2.40. Although this is still below its weekly high, Riley believes that a weekly close at $3.115 would mark the most bullish weekly candle in the token’s history.

For context, a move from yesterday’s low of $1.2543 to $3.1150 would represent a 148% increase. However, this would not be XRP’s biggest weekly gain ever.

Back in December 2017, XRP posted a more substantial 215% weekly gain, rising from $0.22598 to $0.70969, an increase of $0.48471.

In the current scenario, XRP opened this week at $2.9705. A close at $3.115 would translate to a modest weekly gain of just 4.86%, far from its historical best.

However, considering the bounce from its weekly low, XRP could be said to have recorded one of the strongest recoveries of the year, aligning more closely with Riley’s perspective.

XRP Logs Highest Quarterly Close in History

Beyond the weekly chart, XRP recently set a new milestone by recording its highest quarterly close ever.

The token closed Q3 2025 at $2.846, marking a 27.16% gain from its Q2 close of $2.23. This makes September 2025 the third-highest monthly close in XRP’s history, behind January 2025 ($3.03) and July 2025 ($3.02).

With Q4 now underway, analysts are optimistic about even stronger performance. Historically, XRP tends to perform best in the fourth quarter. 

On average, it gains 140% during Q4, with notable rallies including a 240% surge in Q4 2024 and a record-setting 1,064% explosion in Q4 2017.

Market veteran Peter Brandt has responded to the XRP community trolls with profit claims as XRP briefly dropped to his bearish target.

Brandt appears to now have bragging rights in his heated exchange with XRP proponents. He took to X to flaunt his win, as macroeconomic headwinds in the global market forced XRP to his earlier downside target.

“Target reached. Profits taken,” the veteran trader was quick to share on Friday.

XRP Breaks Down from Descending Triangle

Notably, this comes as XRP broke down from a descending triangle yesterday, with Donald Trump’s renewed tariff war with China spurring a broader market downtrend. For context, the US president brandished a 100% levy on Chinese imports effective November 1.

This saw US equities, stocks, and the broader crypto market tumbling, with XRP not left out. The token recorded one of its largest capitulation wicks in history, briefly touching $1.37 on Thursday.

Brandt predicted a drop to $2.22 in his earlier analysis, citing that a daily close below $2.66 would confirm a breakdown from the descending triangle. However, things developed quickly with XRP, probably reaching the analyst’s target for a short trade faster than he anticipated.

Did Brandt Get Lucky?

Nonetheless, the XRP community was not having it, even though XRP followed Brandt’s prediction. Several reactions claimed that the veteran trader got lucky, as an unknown event forced XRP downwards rather than his projected triangle breakdown.

Notably, the XRP capsize came purely from an adverse market reaction to fundamental developments rather than a technical analysis-driven correction. XRP proponents made their case with this, insisting market conditions simply favored him.

Others also claimed he predicted that a close at $2.66 would confirm the move, an event that never occurred. Notably, XRP broke down and reached the target with one daily candle, while Brandt suggested traders wait for confirmation before entering the short.

Meanwhile, Brandt refused to admit to this. He claimed to use a 1934 book written by Richard W. Schabacker to accurately predict the capsize. He also claimed he entered all his trades intraday, suggesting he took the trade before the correction.

XRP Correction Wipes Over $700M in 24 Hours

The correction affected XRP positions worth a staggering $708 million in the past 24 hours. Over $615 million of liquidations were long positions, while $92 million of late shorts also took the hit.

XRP is down over 13% in the past 24 hours, with its market cap now standing at $146 billion. This culminates in a price of $2.44, which represents a 78% rebound from the lows of $1.37 reached yesterday.

This followed a broader market trend, which saw a record $19.3 billion worth of trading positions liquidated in the past 24 hours. Remarkably, this is the largest ever in history, stamping October 10 into the crypto history books.

Popular XRP community figure Chad Steingraber emphasized that history has just been made, describing the latest XRP liquidation event as an XRP Black Swan.

October 10 will go down as one of the most unforgettable days in crypto history — a day marked by one of the strongest liquidation waves the market has ever witnessed.

Global financial markets, including cryptocurrencies, suffered a dramatic plunge after U.S. President Donald Trump announced plans to impose an additional 100% tariff on goods imported from China. 

The announcement immediately rekindled fears of a renewed trade war, triggering a massive sell-off in equities, commodities, and crypto assets. Notably, the total crypto market capitalization tumbled below the $4 trillion mark, settling around $3.70 trillion, as widespread liquidations wiped out billions in value.

XRP Loses $1.27 of Its Value in Hours 

XRP, which has demonstrated resilience over the past few days, was not spared. The token, which had been trading steadily around the $2.80 range over the past few days, suffered a steep decline. Amid the broader market turmoil, it plunged below $2 for the first time in months. 

Notably, XRP experienced a dramatic price swing during the market turmoil. From trading around $2.80 at 03:00 p.m. (UTC) on October 10, the token plummeted to a low of $1.53 a few hours later, marking a sharp loss of $1.27. 

However, it quickly showcased its trademark resilience. Following the steep drop, the asset rebounded above $2, eventually closing at $2.35 by the end of the day. 

Crypto Market Sees Biggest Liquidation in History 

The extreme volatility that swept through the broader crypto market delivered a crushing blow to leveraged traders. Yesterday, within just 12 hours, an estimated $19.14 billion in long and short positions were liquidated, marking what CoinGlass referred to as the largest liquidation event in crypto history. 

Long positions bore the brunt of the havoc, suffering losses of approximately $16.71 billion, while short positions accounted for about $2.43 billion during the same period.

As of now, total liquidations over the past 24 hours have risen slightly to $19.31 billion, with longs contributing $16.81 billion and shorts adding $2.49 billion in losses. 

‘XRP Black Swan’ 

Meanwhile, XRP leveraged traders were not spared from the market-wide bloodbath. Popular community analyst Chad Steingraber highlighted this massive liquidation event, calling it a ‘Black Swan’ moment for XRP.

According to the analyst, XRP saw its largest long liquidation in history, with losses hitting $422.1 million at the time of the X post.

At press time, data from CoinGlass shows that approximately $707 million in XRP positions were liquidated over the past 24 hours.  Notably, short positions accounted for roughly $91.96 million in losses. Long traders took the heaviest hit, with losses now rising to around $615.46 million, marking the largest liquidation event in XRP’s history. 

As of press time, XRP was trading at $2.41, reflecting a 14.47% decline over the past 24 hours and extending its weekly losses to 20.3%. 

A market commentator and XRP community pundit has shared why XRP is currently witnessing its worst retail sentiment in six months.

For context, market analytical resource Santiment first called attention to the increasingly bearish sentiment XRP has faced in recent times. Specifically, Santiment found that XRP is currently seeing the same level of bearish sentiment it witnessed six months ago when President Donald Trump announced his tariffs.

Unrealistic XRP to $1000 Expectations

With the crowd growing extremely fearful, Zach Rector, an XRP community figure, recently came up to highlight some of the factors that may have triggered this level of bearish sentiment.

According to him, multiple new entrants to the XRP market entered the scene this year with high hopes, especially following XRP’s meteoric surge from last November. For context, XRP rallied from $0.5 in November 2024 to a peak of $3.4 in January 2025. This marked a remarkable 580% surge within three months.

XRP’s run, which made it the best-performing asset among the top crypto tokens, attracted several new investors who anticipated another meteoric rally. In addition, market veterans such as Raoul Pal became bullish on XRP, contributing to the influx of new investors awaiting another run.

Within this period, bullish sentiments dominated the scene, and several XRP community figures floated ambitious price targets such as $50, $100, and even $1,000. According to Rector, these new investors held onto these targets and had unrealistic expectations for XRP’s price movements.

Now that XRP has failed to meet these expectations, sentiment has quickly turned sour, leading to the current retail FUD that has dominated the market. 

Poor Economic Conditions

In addition to this, Rector also called attention to poor economic conditions that have kept everyday investors on edge. Notably, such economic situations often push investors to seek a safe haven in alternative assets like XRP. However, with XRP also failing to provide a reliable safety net, increased bearish sentiments have emerged.

According to Rector, a combination of these factors has resulted in frustration for the average retail XRP trader. He noted that he hopes these traders will not sell off their XRP holdings in an attempt to vent their frustration. This is because he believes the arrival of institutional investors and ETFs is inevitable once the ongoing U.S. government shutdown ends.

Rector is one of the XRP community pundits who believe XRP ETFs will gain approval and lead to rapid price surges. In a previous commentary, he argued that following the government shutdown, XRP ETFs could emerge and XRP would be on its way to double digits.

Data shared by CryptoQuant’s analyst Maartunn shows that XRP whales are offloading their tokens.

Notably, this trend comes at a time when XRP is facing bearish pressure. Notably, the token has dropped by over 6% in the last seven days, although it is in the green in the 14-day timeframe.

After pushing past $3 on October 3, XRP plummeted below $2.50 a week later. Since then, the highest it has gone is $2.83, currently changing hands at $2.43. This drop notably coincides with massive whale offloading, often a negative signal for the market.

Sell Pressure Persists

According to data shared by CryptoQuant’s Maartunn, on average, XRP whales are selling $50 million per day. Martuun’s chart shows that during 2022 through early 2023, whale flow was predominantly positive on the 30DMA. This accumulation phase coincided with price stability, suggesting whales were building positions.

Meanwhile, mid-2023 through the first three quarters of 2024 turned decisively negative. During this time, the price was range-bound, albeit with fluctuations. After a surge in whale inflows throughout the rest of the year, XRP saw a spike in price, reaching a high of $3.4 on January 16, 2025.

Notably, during the spike, whale inflows were in the negative region. This was the most negative reading on the entire chart, as investors possibly began profit-taking trades amid XRP’s rally above $3. 

However, a brief accumulation window occurred in April as XRP collapsed to the $2 support level. This accumulation persisted until late June, when XRP recovered above the $2 mark. The recovery led to the latest round of profit-taking trades, which have endured until now.

Currently, whale flow shows sustained negative pressure at approximately -$50 million per day. The whale behavior observed from the chart indicates that whales tend to take profits when XRP recovers to greater heights but accumulate more during price drops.