Crypto markets continued to struggle on Tuesday as deteriorating risk sentiment and technical trading factors kept pressure on major tokens. FxPro analyst Alex Kuptsikevich said the market still resembles “a short-term rebound inside a broader downtrend,” warning that deeper pullbacks remain likely unless buyers regain control soon.
ETF activity provided little support. Canary Capital’s XRPC — the first U.S. spot XRP ETF — recorded an impressive $58.6 million in first-day volume on Nov. 13, but the enthusiasm hasn’t translated into lasting strength for XRP. Meanwhile, derivatives markets saw $28 million in liquidations over the past 24 hours, with long positions accounting for nearly $25 million — evidence of heavy position unwinding after the latest resistance rejection.
Altcoin sentiment remains weak as institutional players continue rotating into assets showing more convincing breakouts and trimming exposure near well-known supply zones, including XRP’s $2.28–$2.30 region.
Market Performance
XRP fell 4.58% to $2.18 in the last 24 hours, accelerating lower after a failed breakout attempt at $2.30. The rejection triggered sharp downside momentum, including a 342% spike in trading volume at 14:00 UTC, when 237 million tokens changed hands — the key turning point in the session.
The token saw choppy moves between $2.27 and $2.18 as sellers repeatedly defended the $2.30 ceiling. Attempts to steady above $2.22 were short-lived. After 17:21 UTC, volume contracted sharply, signaling that institutional traders stepped back to wait for confirmation around the crucial $2.20 support area.
A brief rally from $2.20 to $2.27 around 16:50–17:00 UTC quickly lost momentum as overhead resistance remained firm.
Key Levels Going Forward
- $2.20 support remains essential; holding this level keeps the door open for a retest of $2.30–$2.40.
- A drop below $2.18 could trigger a fast move toward $2.02–$1.98.
- Volume trends will provide clarity — rising buy volume near $2.20 suggests accumulation, while weak-volume rebounds are likely to fail.
- ETF flows, especially continued XRPC inflows, may help stabilize liquidity if they persist.
- With broader market sentiment still shaky, XRP may react sharply to any renewed downside in large-cap crypto assets.
