XRP regained $30 billion in market value after last week’s tariff-induced crash, rising from $2.37 to $2.58 thanks to explosive institutional volume. The rally produced one of the most intense sessions of the year, confirming aggressive buying on dips as traders reposition themselves ahead of new macroeconomic headlines.
News background
The rally follows a 50% wipe-out triggered by President Trump’s declaration of 100% tariffs on China, which wiped out $19 billion in cryptocurrency liquidations in minutes. Renewed buying has since restored confidence, with analysts forecasting a possible record weekly close above $3.12 that would mark XRP’s strongest candle since its inception. Broader markets remain risk-off (Dow -900, Nasdaq -820), but cryptocurrency desks flagged selective institutional inflows into XRP.
Price Action Summary
- XRP jumped 8.5% between 05:00 on October 12 and 04:00 on October 13, trading in a range of $0.22 (9%) between $2.37 and $2.59.
- The explosions occurred between 2:00 p.m. and 5:00 p.m., when volumes increased to 276.8 million, more than double the daily average (118 million).
- Confirmed support at $2.37 with high volume reversals; Resistance formed near $2.59.
- The final push of the session through $2.57 closed at $2.58 with a turnover of 2.3 million, validating the continuation.
Technical analysis
The structure now shows a clean ascending channel: base $2.37, limit $2.59. Sustained closes above $2.59 could open between $2.70 and $2.75, while failure to defend $2.50 risks falling back towards $2.42. Momentum remains bullish with institutional prints leading each breakout leg. Analysts highlight the break above $2.57 as confirmation of a short-term trend change; Continued volume support keeps the bullish bias intact.
What are traders watching?
- If $2.57 remains as a new support pivot.
- Break above $2.59 to reach target between $2.70 and $2.75; Stretch goal of $3.00+.
- Trade war headlines and Federal Reserve rhetoric boost risk appetite across assets.
- ETF speculation and institutional flows underpinning the post-crisis recovery.
