From CryptoPotato · By Wayne Jones
With altcoins rebounding ahead of the US Federal Reserve’s FOMC meeting, crypto analyst Ali Martinez has laid out support and resistance levels for three of them, XRP, Hyperliquid (HYPE), and Ethena’s ENA.
According to him, while the first two need to keep their support intact, ENA has to break through resistance or get hit with a pullback.
Support Levels and Targets for XRP and HYPE
In an October 28 thread on X, Martinez identified $1.25 as the level to watch for XRP, with its daily chart appearing to form an inverse head-and-shoulders pattern, which, according to the market watcher, is a potential bullish reversal formation.
“If $1.25 holds, XRP could move toward the neckline at $1.55,” he wrote. “A daily close above it could signal a breakout toward $2.10.”
However, he feels that if it breaks $ 1.25, then the Ripple token could have to face the prospect of a dip to $0.98.
On Hyperliquid, the analyst noted that the asset had bounced from about $74, close to a trendline it had been tracking since the start of the year. He recalled that in late January, HYPE touched that line, leading to an 87% rally, while another brush with it at the start of August saw the token gain 72%.
At the time of writing, XRP was trading at around $1.33, per CoinGecko data. While that represented a 2% increase in 24 hours, it also marked a 10% drop across 30 days, with the asset languishing nearly 50% from where it was 12 months ago and about 64% below its July 2025 all-time high.
XRP has another factor in its favor, namely the fact that wallets holding at least 10 million units of the token reportedly control over 68% of its supply. That is the highest the share has been since November 2022, and the accumulation may support the recovery case.
Meanwhile, HYPE fared even better in the last 24 hours, adding 5% to its price to change hands near $82. Nonetheless, it is 9% in the red over one month but is 72% higher than this time last year. If support holds again, Martinez says the 11th biggest cryptocurrency by market cap could smash its current all-time high of just under $98 and move toward $110. On the other hand, he thinks a breakdown would put HYPE near $67, with $60 not completely out of the question.
ENA Faces a Different Technical Test
Unlike XRP and HYPE, which need to defend support, ENA must clear resistance to strengthen its recovery setup. In the last few days, the cryptocurrency rose by approximately 18%, and Martinez says it’s now “testing the upper boundary of a descending channel.”
ENA was trading at just over $0.20, having gained 2% in the last day and 3% in the past week. Still, that price is a 22% drop from where the coin was a month ago as well as a 58% plunge in one year. In the analyst’s telling, if it records a 4-hour close above $0.22, then that would signal a potential breakout toward $0.24 to $0.27, while a rejection could send it hurtling back to $0.18.