XRP Plunges 7.3% Below $2.30 Amid XRPC ETF Debut
XRP tumbled 7.3% from $2.48 to $2.30 Friday, breaking key support levels at $2.46, $2.40, and $2.36. The drop coincided with the Nasdaq debut of Canary Capital’s XRPC, the first U.S. spot XRP ETF, which went live at 5:30 PM ET. Despite this milestone for institutional access, broader crypto markets remained under pressure, and the ETF failed to stabilize prices.
Sentiment stayed negative, with FxPro analyst Alex Kuptsikevich describing the market as “a short-term rebound within a larger decline.” On-chain data showed 110.5 million XRP moved between unknown wallets during peak volatility, amplifying uncertainty.
Price Action
XRP traded 157.9 million tokens in 24 hours, 46% above average. A four-minute liquidation cascade from 04:32–04:35 UTC saw the price drop from $2.313 to $2.295 on 6.6 million XRP volume, 254% above baseline. Liquidity briefly evaporated, and XRP settled into $2.30–$2.32 consolidation.
Technical Levels
- Support: $2.29–$2.30
- Resistance: $2.36, $2.40, $2.47
- Chart: Descending triangle support failed; medium-term downtrend intact
- Momentum: Oversold conditions emerging; below key EMAs
Trader Takeaways
- Breaching $2.29 could trigger a move to $2.00–$2.20
- ETF inflows may drive the next volatility phase
- Whale transfers remain a wildcard; further exchange inflows could signal more downside
- XRP is sensitive to broader market weakness
