XRP Price Crashes 17% as Crypto Market Meltdown Deepens
XRP Price Suffers Sharp 17% Crash
Ripple’s $XRP has taken one of the hardest hits in the ongoing crypto selloff, plunging nearly 17% in the last 24 hours to around $2.34. The drop followed Bitcoin’s fall from $120K to $111K and Ethereum’s tumble below $4K, as panic spread through global markets following Trump’s 100% tariff announcement on China, effective November 1st.
XRP/USD 1-day chart - TradingView
The rapid selloff wiped out billions from XRP’s market capitalization and triggered widespread liquidations across derivatives exchanges.
Chart Analysis: XRP Breaks Major Support
As shown in the above chart, XRP just suffered a technical breakdown after losing the crucial support zone near $2.75 and plunging below both the 50-day SMA ($2.91) and 200-day SMA ($2.57).
Key observations:
- Support lost: $2.75 and $2.50 have flipped into resistance.
- Next support levels: $2.20 and $1.80.
- Resistance to reclaim: $2.75 (former base) and $3.00 psychological barrier.
- The chart also shows a descending trendline rejection near $3.00 before the crash, confirming bearish momentum.
This move marks the largest single-day loss for XRP since early 2024, pushing it below long-held moving averages and signaling potential for more downside if market sentiment stays negative.
Market Context: Trump’s Tariff Shock Sparks Panic
The entire crypto market is reeling from Trump’s 100% tariff announcement on all Chinese imports starting November 1st.
This move triggered a wave of risk-off sentiment across global markets, sending investors into cash and stable assets.
- $Bitcoin fell over 7% to around $113K.
- $Ethereum dropped 10%, now hovering near $3,900.
- $Solana, $BNB, and $XRP all saw double-digit losses as selling pressure intensified.
Analysts say that this kind of macro-driven crash often leads to short-term panic, followed by selective recovery once markets stabilize.
On-Chain and Exchange Data: Liquidity Drains Fast
Exchange data shows that major outflows from Binance and Coinbase accelerated during the crash, particularly for XRP and ETH.
Several on-chain trackers noted rapid transfers of XRP from cold wallets to exchanges, signaling mass liquidations.
While some traders suspect market manipulation by large players, others argue this was a liquidity-driven correction amplified by macro fear and stop-loss cascades.
XRP Price Prediction: What’s Next for XRP?
If XRP fails to hold above $2.20, the next key support lies at $1.80, a level not tested since mid-2024.
However, if bulls manage to reclaim $2.75, a short-term rebound toward $3.00–$3.10 could be possible.
- Bullish scenario: Strong buying near $2.20–$2.30 could fuel a recovery toward $2.75 and $3.00.
- Bearish scenario: Continued Bitcoin weakness and broader market fear could drag XRP below $2.00, extending the correction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. chip stocks drop for eight consecutive sessions! $2 trillion wiped out in market value, marking the longest losing streak since 2008
This week, the investment prospects of AI were questioned by the market. The Philadelphia Semiconductor Index fell by 11.4%, and the Nasdaq dropped more than 4% in a single week. CoreWeave's stock price fell over 25% during the week, and its bonds dropped to distressed levels, casting doubt on the high-yield debt financing model. Strategists warned that being overly bearish could lead to missing opportunities, while "Wood Sister" bucked the trend and increased her holdings of CoreWeave.
In August, overseas funds returned to the U.S. Treasury market; UK holdings surpassed $1 trillion for the first time; Japan and China continued to reduce holdings, with China’s U.S. Treasury holdings hitting the lowest level since 2008
According to a report by the U.S. Treasury Department, overseas investors made net purchases of $108.9 billion in U.S. Treasury bonds in August, reversing a two-month decline in holdings. Among the top ten countries and regions holding U.S. debt, only China and Japan reduced their holdings in August. Japan, the largest holder, saw its holdings drop for the fourth consecutive month, reaching a 22-month low in the same month it intervened in the foreign exchange market. China’s holdings declined for the third straight month, hitting new lows for two consecutive months not seen since 2008. The UK, the second-largest holder, posted historic highs for two consecutive months. Canada recorded the largest increase in August, up $38.3 billion, ranking fifth overall. Belgium had the second-largest increase, up $19.8 billion.
Strategy surpasses JPMorgan in trading volume as MSTR neared 49M shares in August
Crypto prices
More
