XRP crashed as much as 42% in trading on Friday, its steepest one-day drop in recent years, as whales liquidated in major venues and futures open interest fell by $150 million.
The sell-off took the price as low as $1.64 before a partial recovery to $2.36, with volumes rising 164% above the 30-day average, a sign of forced deleveraging across corporate desks.
What to know
• XRP fell from $2.82 to $2.36 between October 10 01:00 and October 11 00:00, recording a daily loss of 16%.
• Intraday volatility peaked at 43%, and prices briefly dipped to $1.64 during high-frequency settlement trades.
• Institutional futures open interest fell from $9 billion to $8.85 billion as long liquidations reached $21 million versus short $2 million.
• 320 million XRP transferred to exchange wallets last week, confirming whale distribution pressure.
• Late purchases stabilized the price between $2.35 and $2.40, with accumulation volumes exceeding 12 million in the last 15 minutes.
News background
• Ripple ecosystem faces macro and structural stress: global trade tensions, divergent central bank policies, and uncertainty over US digital banking licenses.
• The deadline for establishing the Ripple National Trust passed on October 7, increasing regulatory risk premiums around XRP-linked institutional products.
• Despite the drawdown, on-chain data shows long-term holders adding less than $2.40, suggesting value-based repositioning.
Price Action Summary
• XRP opened near $2.82 and sold off aggressively mid-session, breaking key supports at $2.70 and $2.50.
• The largest settlement occurred between 15:00 and 21:00 UTC, when the hourly volume reached 817.6 million.
• The low of $1.64 marked a possible capitulation point; bounces to $2.36 with a resistance limit around $2.84.
• The last 60 minutes (23:41–00:40) saw a stabilizing move from $2.31 → $2.38 (+2%), with some topping $2.35 in sustained bids.
Technical analysis
• Support: Established around $2.30–$2.35; downside risk extended to $2.22 if volume dries up.
• Resistance: Stratified between $2.84 and $2.90, with $3.05 as a macro breakout trigger.
• Volume: 164% increase vs. 30-day average: capitulation degree rotation.
• Trend: 75-day symmetrical triangle broken downwards; needs to close above $2.90 to regain structure.
• Momentum: RSI levels near multi-month lows; expanding volatility bands, indicating possible base formation.
What traders are watching
• If the $2.30 support zone attracts sustained whale accumulation.
• Rebuilding open interest after a $150 million contraction in derivatives markets.
• Regulatory clarity following the review of Ripple’s charter and its impact on corporate adoption.
• Asset impact of BTC’s $125,000 rally: possible relief rotation towards XRP.
• Technical confirmation above $2.90 to negate short-term bearish bias.
