Trader Cryptoinsightuk warned that Ethereum and XRP could fall another 10% before a meaningful recovery. According to NS3.AI, Cryptoinsightuk said on Oct. 12 that he opened an Ethereum short position targeting $2,200 and disclosed an XRP buy order at $1.22 in an Oct. 11 analysis, expecting another wave of cryptocurrency selling.

He also said Ethereum could still rally toward $2,700 without invalidating the broader bearish setup. Cryptoinsightuk added that another sell-off could encourage aggressive short positions and potentially set up a sharp bullish reversal.