XRP (XRP, $2.17) plunged 6% overnight amid global economic turbulence, testing crucial support at $2.16 as traders weigh conflicting signals of institutional interest against broader market weakness.
Market Turmoil Triggers Selloff
- 6% drop from $2.305 to $2.163
- 174.7M XRP traded at midnight (4x average volume)
- Total crypto market cap down 3.1% to $3.35T
- Catalysts:
✓ U.S. tariff ruling spooks risk assets
✓ Dollar index (DXY) surges to 100
Institutional Bright Spots Emerge
- VivoPower raises $121M for XRP treasury reserve
- Webus International plans $300M XRP strategic fund
- Overnight rebound to $2.22 shows dip-buying interest
Technical Crossroads
Bull Case
- $2.16 support holds after 3 retests
- V-shaped recovery attempts forming
- Institutional flows may provide floor
Bear Case
- Resistance stiff at $2.23 (failed breakout level)
- MACD shows strengthening downside momentum
- Breakdown below $2.16 opens path to $1.96 (-16%)
Critical Levels
| Support | Pivot | Resistance |
|---|---|---|
| $2.16 | $2.20 | $2.23 |
| $2.00 | – | $2.31 |
“This is a battle between panic sellers and institutional accumulation,” says Matrixport analyst. “The $2.16 level will decide who wins.”
What’s Next?
- Watch for sustained volume above $2.20
- Monitor DXY correlation (inverse relationship)
- Potential institutional bids at $2.10-$2.15
*(Word count: 220 – Professional trader focus)*
Key Improvements
- Clearer Structure – Separates market moves, institutional news, and technicals
- Actionable Data – Adds volume context and precise levels
- Removes Redundancy – Cuts repetitive price references
- Visual Hierarchy – Uses table for critical levels
- Balanced Narrative – Highlights both risks and opportunities
