The
News context
Broader crypto markets remain under pressure as risk sentiment softens and technical signals dominate the short-term trading behavior of major companies. According to FxPro’s Alex Kuptsikevich, crypto conditions still look like “a short-term rebound amid a larger decline,” with market structure pointing toward deeper retracements unless momentum picks up again.
ETF flows also became mixed: Canary Capital’s XRPC – the first US spot Meanwhile, derivatives data shows $28 million in XRP liquidations over the past 24 hours, with long positions accounting for almost $25 million of that total, highlighting an aggressive unwind upon rejection of resistance.
Sentiment toward altcoins remains fragile as institutional traders selectively rotate capital, prioritizing assets with stronger breakouts while reducing exposure to overhead supply zones like XRP’s $2.28 to $2.30 band.
Price Action Summary
XRP fell 4.58% to $2.18 during the 24-hour session, reversing sharply after a failed breakout attempt to $2.30. The rejection triggered heavy waves of selling, with a 342% volume spike at 2:00 p.m. UTC – 237 million tokens traded – marking the session’s inflection point.
The token generated volatile swings between $2.27 and $2.18 as sellers aggressively defended $2.30. Attempts to stabilize above $2.22 were met with renewed pressure. Late session trading resulted in extended periods of steady volume after 17:21 UTC, suggesting institutional flows ground to a halt until clearer confirmation emerged around the $2.20 floor.
Despite the decline, XRP briefly rebounded from $2.20 to $2.27 between 16:50 and 17:00 UTC, but the momentum broke as resistance remained firmly intact.
What traders should watch out for
- $2.20 is the battleground. A hold triggers another attempt towards $2.30 – $2.40.
- Failure below $2.18 exposes a rapid decline towards $2.02 – $1.98.
- Volume confirmation will dictate direction – an increase in buying volume to $2.20 signals accumulation; low-volume rebounds remain vulnerable.
- ETF flows remain a key catalyst in the near term. Sustained XRPC inflows would strengthen spot liquidity.
- The general feeling remains fragile; XRP will be very sensitive to any further risk aversion movement in the majors.
