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
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
