XRP Corrects Below $1.50 Amid Growing Selling Pressure

Ripple's XRP is currently facing a correction, trading below $1.50 after reaching its September highs of $1.66. This decline is in line with the struggles faced by major assets Bitcoin and Ethereum, with BTC trading above $83,000 and ETH hovering between $2,600 and $2,700. A sustained recovery above $1.50 would boost XRP's short-term bullish outlook, but a deeper loss below $1.48, the first psychological support, is still possible, especially with cooling institutional demand. The derivatives market, however, shows some positivity, with perpetual futures Open Interest climbing to 2.39 billion XRP on Thursday. Meanwhile, the Fear & Greed Index sits at 74, indicating a higher risk-on sentiment that could help stabilize prices in the crypto market. From a technical analysis perspective, XRP is trading amid growing selling pressure, but holds above the 50-day and 200-day Exponential Moving Averages, keeping the broader structure supported. Immediate support is now aligned at the first psychological area around $1.48, with a deeper cushion emerging from the clustered 50-day and 200-day EMAs between roughly $1.38 and $1.37. A stronger floor appears at the 100-day EMA near $1.31, ahead of the SuperTrend support around $1.28.