XRP Price News: Plunges 7%, but Will XRPC ETF Rise on Second Day?

Brutal selloff breaks psychological $2.30 floor, erasing recent gains as distribution overwhelms historic XRPC debut.

News Background

XRP’s worst intraday decline in weeks coincided with a major industry milestone: the launch of the first U.S. spot XRP ETF, Canary Capital’s XRPC, now officially effective on Nasdaq as of 5:30 PM ET. The listing marks a turning point for institutional XRP access, but the debut arrived as broader crypto markets extended their medium-term downtrend.

STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy .

Sentiment remains pinned at fear amid persistent macro risk-off flows. Analysts including FxPro’s Alex Kuptsikevich warn crypto conditions still resemble “a short-term rebound within a larger decline,” with market structure vulnerable to deeper retracements. Large-cap token flows echo that caution, and XRP’s on-chain data showed 110.5M tokens moved between unknown wallets in the hours surrounding the breakdown, amplifying uncertainty during peak volatility.

Price Action Summary

XRP collapsed 7.3% from $2.48 to $2.30 over the 24-hour session, slicing through major support levels at $2.46, $2.40, and $2.36. The decline spanned a violent $0.23 range, with 157.9M XRP traded — 46% above the 24-hour average.

The core breakdown unfolded during a four-minute liquidation cascade from 04:32–04:35 UTC, when price plunged from $2.313 to $2.295 on 6.6M XRP volume — 254% above baseline. The single-minute spike of 4.06M at 04:32 marked the session’s selling climax. Liquidity briefly evaporated as trading flatlined between 04:35–04:36, indicating either halted order flow or severe book thinning.

Attempts to stabilize above $2.31 failed, and XRP settled into narrow consolidation near $2.30–$2.32.

Technical Analysis

The session confirmed a full technical breakdown with clear structural damage:

Support/Resistance:

• $2.29–$2.30 becomes primary support after breach of psychological floor

• Former support at $2.36, $2.40, and $2.47 now act as stacked resistance

• Invalidation for bulls requires a decisive reclaim of $2.36

Volume Profile:

• Total session volume 157.9M (+46%) confirms institutional-grade distribution

• Breakdown sequence showed 254% hourly volume spike, typical of liquidation-driven moves

• No meaningful recovery volume appeared during post-crash consolidation

Chart Structure:

• Descending triangle support failed decisively, killing prior reversal setup

• New lower range forming between $2.29–$2.33

• Breakdown aligns with medium-term downtrend in broader crypto indexes

Momentum Indicators:

• Oversold signals emerging intraday, but no confirmation of trend reversal

• Breakdown occurred below key EMAs; 50D/200D cross continues to slope bearishly

What Traders Should Watch

XRP now sits at a pivotal inflection point:

• Holding $2.29 is essential — failure exposes a fast move into the $2.00–$2.20 demand zone

• Any recovery must first reclaim $2.36 before bulls regain technical control

• ETF inflows will act as the next volatility catalyst; early XRPC volume during market open will indicate whether institutions treat the listing as an accumulation opportunity or liquidity event

• On-chain flows around the 110.5M XRP whale transfers remain a wildcard — exchange inflows would confirm additional downside risk

• Sentiment remains fragile across majors; beta-sensitive assets like XRP will respond disproportionately to broader market weakness