Ripple’s native token XRP witnessed a dramatic crash on Friday, plunging as much as 42% in one of its sharpest one-day declines in years. The token tumbled from $2.82 to as low as $1.64 before staging a modest recovery to $2.36, according to data from Investing.com and CoinDesk.
The selloff coincided with a broad crypto market downturn, with Bitcoin and Ethereum also losing 5.5% and 10.6% respectively. At the time of writing, XRP was trading near $2.50, down roughly 10.4% over the past 24 hours.
Whale Liquidations Trigger Massive Selloff
Market data suggests the steep decline was primarily driven by large-scale liquidations and a $150 million drop in institutional futures open interest. As leveraged long positions were wiped out across major exchanges, trading volumes spiked 164% above the 30-day average, signaling a wave of forced selling and panic exits.
Over 320 million XRP tokens were moved to exchange wallets in the past week, indicating heightened whale distribution pressure. Despite the turmoil, late-session buying pushed prices back above the $2.35 level, suggesting accumulation interest at lower ranges.
Ripple’s Regulatory Headwinds Add to Pressure
XRP’s decline also comes amid growing uncertainty surrounding Ripple’s National Trust charter, which expired on October 7, adding to investor anxiety. Broader macroeconomic challenges — including global trade tensions and divergent central-bank policies — have also dampened sentiment around blockchain-based payment assets.
Still, on-chain metrics hint that long-term holders are accumulating below $2.40, a potential sign of confidence in XRP’s long-term value proposition despite short-term volatility.
Technical Outlook: Key Levels to Watch
From a technical standpoint, XRP has broken below its 75-day symmetrical triangle, confirming a bearish structure in the short term.
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Support: $2.30–$2.35 (critical accumulation zone)
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Next downside target: $2.22 if volumes weaken
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Resistance: $2.84–$2.90; a breakout above $3.05 could invalidate the bearish bias
Momentum indicators show RSI near multi-month lows, while expanding volatility bands point toward a potential base formation phase if the token holds above $2.30.
Market Context: Broader Crypto Selloff
Across the crypto market, Bitcoin’s market cap stood at $2.28 trillion (58.8% dominance), while Ethereum’s market value was around $472 billion (12.2% share). XRP’s market capitalization dropped to $155.7 billion, representing about 4% of the total crypto market — down from its July peak of $210.6 billion.
Despite the drawdown, XRP remains one of the top-performing large-cap tokens in 2025, supported by Ripple’s enterprise adoption and ongoing expansion in cross-border settlement partnerships.
Outlook: Cautious Optimism Among Traders
Traders are closely watching whether $2.30 support can hold amid attempts to rebuild open interest after Friday’s shakeout. A decisive move above $2.90 could shift sentiment back toward the bulls.
For now, XRP’s recovery to the mid-$2.30s offers some relief — but with liquidations, regulatory uncertainty, and broader market weakness still in play, volatility is expected to remain high in the coming sessions.
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