XRP price fell 8.75% despite Ripple’s plans to acquire $1 billion worth of XRP. Bulls hope for a rebound but fear a drop to $2 support level. Ripple could become the largest corporate holder of XRP. XRP still in a downtrend, but a breakout could lead to a 5-20% increase in October.

XRP price fluctuates within a falling wedge pattern after a $20 billion liquidation in the crypto market. Possible dip to $2 support level before a potential reversal. A breakout above the wedge could push the price towards $2.36-$2.75 range, with up to $118.76 million in short leverages.

Potential short liquidations at $2.36-$2.75 levels could drive XRP price towards $3 psychological resistance. A close below $2 may lead to further downside towards $1.65. Long-term charts show XRP maintaining an ascending triangle breakout scenario, eyeing a rebound towards $3.55 and a potential increase to $7.75 by early 2026.

Read more at Cointelegraph: Ripple Leads $1B Fundraise for XRP Hoard But Risk of $2 Test Remains