Crypto markets remained under pressure on Tuesday as fading risk appetite and weak technical signals weighed on major tokens. FxPro analyst Alex Kuptsikevich described current conditions as “a short-term recovery within a larger downtrend,” warning that the market could see deeper declines unless buyers step in more aggressively.
ETF activity offered limited support. Canary Capital’s XRPC — the first U.S. spot ETF tied to XRP — generated a strong $58.6 million in opening-day volume on Nov. 13, but the momentum has not translated into sustained strength for the token. Derivatives markets also showed stress, with $28 million in liquidations over the past day. Nearly $25 million of that total came from long positions, indicating substantial deleveraging after the latest resistance rejection.
Sentiment across altcoins remains soft as institutional traders continue shifting toward assets showing clearer breakout structures while trimming exposure around established supply levels — including XRP’s heavy resistance near $2.28–$2.30.
Market Performance
XRP dropped 4.58% to $2.18 over the past 24 hours, extending losses after failing to break past $2.30. The rejection triggered strong downward momentum, including a 342% surge in trading activity at 14:00 UTC, when 237 million tokens traded — marking the turning point of the session.
Price action was volatile within the $2.27–$2.18 band as sellers consistently defended the $2.30 cap. Attempts to stabilize above $2.22 were brief and quickly faded. After 17:21 UTC, volume declined sharply, suggesting institutional traders stepped aside to await clearer signals around the key $2.20 support zone.
A quick rebound from $2.20 to $2.27 between 16:50–17:00 UTC failed to gain traction as overhead resistance held firm.
Key Levels Ahead
- $2.20 remains the key support; holding this level keeps the path open for another attempt at the $2.30–$2.40 region.
- A break below $2.18 risks a fast slide toward $2.02–$1.98.
- Volume patterns will be crucial — rising buy volume at $2.20 suggests accumulation, while weak-volume upticks are likely to fade.
- Continued inflows into the XRPC ETF may help steady market liquidity if they persist.
With broader sentiment still unstable, XRP remains vulnerable to fresh downside if major cryptocurrencies extend their declines.
