XRP experienced a turbulent 24-hour period from September 21 at 03:00 to September 22 at 02:00, fluctuating 3.46% between a high of $3.014 and a low of $2.910.
The selloff coincided with the launch of the inaugural U.S.-listed XRP ETF, which achieved a remarkable $37.7 million in first-day volume, though institutional profit-taking overshadowed the bullish catalyst.
News Background
• The first U.S.-listed XRP ETF started on September 21, generating $37.7 million in opening-day volume — the largest ETF debut of 2025.
• Federal Reserve policy easing is under scrutiny, with markets anticipating near-certain rate cuts in September, typically favorable for digital assets.
• Analysts caution about ongoing structural consolidation despite the ETF enthusiasm, with resistance remaining around $3.00.
Price Action Summary
• XRP declined 3.46% during the 24-hour timeframe, dropping from $3.01 to $2.91 before concluding at $2.92.
• A midnight crash caused the price to tumble from $2.973 to $2.910, resulting in 261.22 million in trading volume — four times the daily average.
• Liquidations amounted to $7.93 million during the downturn, with 90% affecting long positions.
• In the final hour, XRP rebounded from $2.92 to $2.94, only to pull back to $2.92, establishing a resistance zone around $2.93-$2.94.
Technical Analysis
• Trading range: $0.104 span showing 3.46% volatility between a high of $3.014 and a low of $2.910.
• Resistance set at $2.98-$3.00 after high-volume rejection.
• Support area formed at $2.91-$2.92, frequently tested post-crash.
• Consolidation developed near $2.92 in the last hour as XRP struggled to maintain levels above $2.93.
• The surge in volume at 261M confirms the prevalence of institutional selling overnight.
What Traders Are Watching
• Can XRP regain and maintain closes above $3.00, or will resistance at $2.98-$3.00 limit the upside?
• How will additional flows from the new ETF influence liquidity following the record-breaking initial participation?
• The Federal Reserve’s September rate decision and whether a dovish approach could ignite renewed cryptocurrency inflows.
• Exchange reserves at 12-month highs indicate a potential supply overhang despite institutional interest.
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