XRP has come under renewed pressure in October, slipping to the $1.31 to $1.33 range.

Blockchain outlet U.Today reported on Oct. 15 that XRP fell from a short-term peak of $1.50 and, within days, gave up most of the upward momentum built over the summer.

The immediate trigger for the drop was U.S. inflation data. After hotter-than-expected inflation, investors quickly revised their outlook for the Federal Reserve's interest rate path. The market priced in a 64 percent chance of a benchmark rate increase at the end-of-month meeting, and money moved into defensive U.S. Treasuries. Individual investors were reported to have unwound positions in bulk, accepting realised losses.

Charts also showed a clear bearish trend. XRP fell below a horizontal zone where trading volume had been concentrated. Individual investors moved into fear-driven selling, while institutional investors made planned purchases around a local order-block area.

Hourly technical analysis also suggested the current downtrend is linked to strong support. With key liquidity and order blocks concentrated in the $1.30 to $1.60 range, selling pressure was said to have run into a thick liquidity wall. Large investors, however, are watching market moves in November.

Institutional investors appear not to be overly concerned about the recent market slump. Corporate-related developments this week included Evernorth Holdings' Nasdaq listing and a large XRP fund, Standard Chartered's custody of RLUSD, and DriveWealth's XRP integration. Spot XRP exchange-traded funds were tallied as having received $1.7 billion in inflows.

Return statistics also reflect October weakness alongside expectations for year-end. The roughly 12 percent decline is seen as reaffirming that October has traditionally been a weak period. The median October return was minus 5 percent, while the average returns for November and December were tallied at 80 percent and 63 percent, respectively. Large funds are assessed as focusing on the possibility of a repeat of a November 2024 scenario, when a sharp surge followed similar pressure.

A turning point is expected at the end of this month. The market is watching the Fed's rate decision and Ripple's annual Swell event to be held in New York on Oct. 27 as key variables. Those two factors are expected to determine whether the current steep weakness reverses and leads into a November rebound the market is anticipating.