XRP Holders Didn't Panic Despite 50% Price Drop, Peter Brandt Issues Bullish Verdict on Bitcoin (BTC), Shiba Inu (SHIB) Back in 2023 — Crypto News Digest

XRP network activity holds steady despite market crash

XRP army has proven to be resilient amid historic market turmoil.

• Stable on-chain metrics. XRP community showed resilience amid the latest market crash, with no major disruptions in on-chain activity.

The XRP community remained relatively unfazed by the recent market crash, according to on-chain data. The XRP Ledger (XRPL) network witnessed slightly higher activity based on a slight spike in the transaction per second (TPS) metric, but there was nothing abnormal.

That said, it is worth noting that the number of daily transactions did top 2 million for the first time since early August on Oct. 11, according to data provided by blockchain explorer XRPScan.

• Market sentiment. Despite the sell-off, network engagement remains strong, hinting at investor confidence in the XRP ecosystem.

On Oct. 10, the price of the token experienced a massive crash, briefly collapsing by more than 50% to just $1.25. XRP reached its lowest level since November 2024 before seeing a sharp recovery.

Crypto market endures brutal week but holds bullish outlook, says Peter Brandt

Peter Brandt, trading veteran, turns bullish on Bitcoin, XRP, Ethereum and Stellar after $16 billion liquidation bloodbath.

• XRP outlook. Trading around $2.46, XRP holds $1.79 as key support, with targets at $3.00–$3.50 if momentum resumes.

Crypto just survived one of the hardest weeks in four years. U.S. tariffs on Chinese exports pushed Bitcoin all the way down to $100,600 before it recovered above $111,000.

More than $16 billion in liquidations hit derivatives, leaving traders unsure if the cycle was broken. Into this setup, Peter Brandt posted charts for four majors — and all of them came out bullish in his opinion. XRP is at $2.46. 

Brandt said the recent pullback is "a minor reaction." The breakout from last year’s wedge is still valid, with $1.79 acting as support and $3.00-$3.50 standing as the next targets.

• Bitcoin levels to watch. Brandt views the $109,000–$110,000 zone as critical support.

Bitcoin closed the week at $112,011. His verdict: "Bull still alive and well." The line that matters runs through $109,000-$110,000. Above, the SMA at $113,897 and resistance between $123,000-$126,000 are the next points to watch.

Shiba Inu suffers steep decline amid market turmoil

Lack of fundamentals is what is making Shiba Inu struggle so much now.

• Severe impact. Shiba Inu (SHIB) ranks among the worst-hit assets following Friday’s flash crash, plunging to its lowest level in years.

Shiba Inu is one of the most severely impacted assets in the cryptocurrency market following the flash crash that appeared Friday. As macroeconomic pressures reverberate throughout the digital asset space, SHIB has fallen to its lowest level in years.

The current U.S. economic landscape has brought on a new wave of uncertainty due to the tariff war, which has caused risk assets, including cryptocurrencies, to plummet. Previously thriving on retail hype and speculative momentum, SHIB has not shown any signs of resiliency in this most recent sell-off.

• Loss of support. SHIB broke below the key $0.000010 level, a crucial psychological and technical support, signaling deeper weakness.

A crucial psychological and technical support level of $0.000010 has been breached by the token, which has broken decisively below its multi-month consolidation triangle. 

The breakdown is evident on the chart: SHIB’s price structure has finally given way after months of tightening volatility, resulting in an accelerated decline exacerbated by liquidations and declining market confidence.