XRP Experiences Rollercoaster 24 Hours

In a dramatic 24-hour period ending September 22, XRP saw a significant price fluctuation, peaking at $3.014 before plunging to a low of $2.910—this equates to a staggering 3.46% drop. The volatility comes on the heels of a major event in the crypto world, the launch of the first U.S.-listed XRP ETF.

ETF Launch Sparks Initial Excitement

The XRP ETF debuted on September 21 with a whopping $37.7 million in trading volume on its first day, marking the largest ETF launch of 2025. However, this initial excitement was short-lived as institutional investors engaged in profit-taking, overshadowing the bullish sentiment sparked by the ETF.

Market Conditions and Future Outlook

While the atmosphere remains charged with anticipation, especially surrounding potential rate cuts by the Federal Reserve, caution prevails among traders. Analysts highlight a significant resistance level near the $3.00 mark, suggesting that the bullish momentum might stall despite the ETF's introduction.

Dramatic Price Movements and Liquidation Estimates

XRP’s decline was steep, closing at $2.92 after plummeting from $3.01 to a low of $2.91 over the span of the day. A midnight crash notably pushed the price down from $2.973 to $2.910, resulting in an incredible trading volume of 261.22 million—four times the daily average. This downfall triggered liquidations totaling $7.93 million, predominantly affecting long positions.

Technical Analysis: Resistance and Support Levels

Currently, XRP is navigating a price range of $2.91 to $3.00, with a promising support zone forming at $2.91-$2.92, which was tested multiple times following the crash. Meanwhile, resistance has been firmly established at the $2.98-$3.00 area, making it challenging for the asset to regain its footing. As the final hour approached, XRP struggled to consolidate, failing to maintain levels above $2.93.

Traders on Alert as Market Shifts

With the recent surge in trading volume indicating substantial institutional selling, traders are closely monitoring XRP's performance. As the market adapts to these changes, all eyes are on how XRP will navigate these tricky waters in a climate of fluctuating sentiment and looming economic policies.