The brutal sell-off breaks the psychological floor of $2.30, erasing recent gains as the distribution overwhelms XRPC’s historic debut.
News background
- XRP’s worst intraday drop in weeks coincided with a major industry milestone: the launch of the first XRP spot ETF in the US, Canary Capital’s XRPC, now officially effective on Nasdaq at 5:30 pm ET.
- The listing marks a turning point for institutional access to XRP, but the debut came as broader crypto markets extended their medium-term bearish trend.
- The feeling is still stagnant fear amid persistent macroeconomic flows of risk aversion.
- Analysts including FxPro’s Alex Kuptsikevich warn that cryptocurrency conditions still resemble “a short-term bounce within a larger decline,” with the market structure vulnerable to deeper pullbacks.
- Large-cap token flows echo that caution, and XRP on-chain data showed that 110.5 million tokens moved between unknown wallets in the hours around the crash, amplifying uncertainty during peak volatility.
Price Action Summary
- XRP collapsed 7.3% from $2.48 to $2.30 during the 24-hour session, breaking through major support levels at $2.46, $2.40, and $2.36.
- The drop spanned a wild range of $0.23, with 157.9 million XRP traded, 46% above the 24-hour average.
- The central breakdown developed during a four-minute liquidation cascade between 04:32 and 04:35 UTC, when the price fell from $2,313 to $2,295 on a volume of 6.6 million XRP, 254% above the baseline.
- The single-minute peak of 4.06 million at 04:32 marked the sales climax of the session. Liquidity briefly evaporated when trading stabilized between 04:35 and 04:36, indicating that order flow stopped or the pipeline was severely reduced.
- Attempts to stabilize above $2.31 failed and XRP settled into a tight consolidation near $2.30-$2.32.
Technical analysis
The session confirmed a complete technical breakdown with clear structural damage:
Support/Resistance:
• $2.29–$2.30 becomes the main support after the break of the psychological floor
• Former support in $2.36, $2.40and $2.47 now acts as stacked resistance
• Invalidation of the bulls requires a decisive rally in $2.36
Volume profile:
• Total session volume 157.9 million (+46%) confirms institutional grade distribution
• The breakdown sequence is shown 254% hourly volume spike, typical of liquidation-driven moves
• No significant recovery volume appeared during post-accident consolidation.
Chart structure:
• The descending triangle support failed decisively, ending the previous reversal setup.
• A new lower range is formed between $2.29–$2.33
• Breakout aligns with medium-term bearish trend in broader crypto indices
Momentum Indicators:
• Intraday oversold signals emerge, but no confirmation of a trend change
• The breakout occurred below the key EMAs; The 50D/200D cross continues with a bearish slope
What traders should keep in mind
XRP now stands at a fundamental inflection point:
• Holding $2.29 is essential: failure exposes a rapid movement towards the $2.00–$2.20 demand zone
• Any recovery must first be claimed $2.36 before bulls regain technical control
• ETF inflows will act as the next catalyst for volatility; The initial volume of XRPC during the market open will indicate whether institutions treat the listing as an accumulation opportunity or a liquidity event.
• Chain flows around the 110.5 million XRP Whale transfers remain a wild card: currency inflows would confirm additional downside risk.
• Sentiment remains fragile across major companies; Beta-sensitive assets like XRP will respond disproportionately to broader market weakness.
