XRP saw a 21% drop after briefly breaking the $0.625 resistance on September 29. Despite the market's muted sentiment, bulls hope to defend the $0.50 support, especially if Bitcoin stabilizes around $60k. Recent whale transactions increased with Bitcoin's rejection at $66.5k, and XRP traders are watching for a potential buying opportunity at current support levels.

The bearish trend, which began in early October, saw XRP’s Awesome Oscillator hit zero, signaling lost momentum from late September. Bulls are now hoping for a strong buying volume to trigger a bounce.

XRP selling pressure surged, with the mean coin age and 30-day MVRV both plummeting, indicating heavy losses for short-term holders. The $0.585 level may pose a significant obstacle if XRP attempts to rally again.