XRP Faces Heavy Selling Amid Global Uncertainty but Shows Institutional Strength and Double-Bottom Support
Cryptocurrency markets are under pressure as geopolitical tensions and trade policy shifts spark broad sell-offs, with XRP among the hardest hit by heavy selling volume.
The U.S. government’s recent proposal of a possible 50% tariff on imports from the European Union has heightened market anxiety, causing XRP to decline alongside other major digital assets—even as Bitcoin continues to hit fresh all-time highs.
Technically, XRP is holding a crucial support level near $2.25-$2.26. Analysts warn that falling below this zone could open the door to deeper corrections, potentially driving prices down toward $1.55 to $1.90.
Despite the price volatility, institutional appetite remains robust. Volatility Shares recently launched an XRP futures ETF, and leveraged ETF inflows have surged, signaling that Wall Street investors are actively accumulating XRP amid the market downturn.
Technical Analysis Summary
- XRP dropped 3.46% over 24 hours, slipping from $2.361 to $2.303, with an overall trading range of $0.084 (3.57%).
- The most dramatic move came during the midnight hour, when XRP plunged to $2.297 on exceptionally high volume of 37.1 million tokens, establishing a solid volume-based support level.
- A follow-up sell-off at 08:00 saw XRP dip to a 24-hour low of $2.280 with an even larger volume spike of 39.9 million, confirming a classic double-bottom pattern.
- In the final hours, XRP showed notable volatility with a recovery attempt. After bottoming at $2.297 at 13:11, the price held firm around $2.298 before rallying to $2.307 by 13:36-13:39 on high volume between 480K and 627K tokens.
- This rally formed a clear resistance zone near $2.307, which was tested several times before profit-taking pushed XRP back to $2.300, a key short-term support level aligned with psychological price barriers.
