XRP is back at levels that traders remember all too well. The cryptocurrency suffered a sharp flash crash on October 10, sending its price down from $2.82 to $1.58, before an equally quick recovery towards $2.36. Months later, that same zone is back in play, but this time without the volatility spike or immediate recovery that characterized the earlier move.
At the time of writing, XRP is trading around $1.44, down 10.4% in the last 24 hours. This continued selling pressure has pushed the XRP price back to the flash crash low, and the next question is about what happens from here.
Why the Wick Low of October 10 is so important
According to one technical analysis done by crypto analyst Hov on the social media platform
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During the day the flash crash of October 2025the XRP price registered a low of around $1.58, which acted as a panic extreme where the XRP price quickly flew back once the forced liquidations were approved. However, the current situation looks different. XRP has now revisited that fuse and undermined it somewhat through true bearish tradingand as noted by crypto analyst Hov, things are starting to take shape.
Hov’s technical analysis framework places XRP in the final stages of an extended flat correction, with the current decline forming the C-wave. In particular, the analyst follows a terminal diagonal within the C wave. This is because ending diagonals are known for their overlapping price action, compressed ranges and false breakdowns that can shake off late sellers.
If the structure holds up, XRP just mightt transition to a stabilization phase and a possible reversal sequence. If it doesn’t work, then the correction phase is not yet completed.
$1.43 is the line that changes everything
The important thing to note going forward is how XRP reacts to $1.43 on the weekly time frame. Technical analysis shows that this is the level that XRP must maintain to keep its current structure intact. A close below $1.43 would invalidate the last diagonal statement and make the outlook decisively bearish. In the analyst’s words, that’s where “things get very ugly, very quickly.”
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The bullish scenario The chart shown on the chart also depends on whether XRP manages to stay above this $1.43 area. In that case, the projection shows the price stabilizing at this support before moving back up and eventually making a strong recovery.
Under this outlook, XRP would enter an Impulse Wave V within a larger Elliott Wave structure. If that momentum plays out as expected, the chart points to long-term upside price targets as high as $5.53.
Featured image from Adobe Stock, chart from Tradingview.com