Brutal selloff breaks psychological $2.30 floor, erasing recent gains as distribution overwhelms historic XRPC debut.
News Background
XRP’s worst intraday decline in weeks coincided with a major industry milestone: the launch of the first U.S. spot XRP ETF, Canary Capital’s XRPC, now officially effective on Nasdaq as of 5:30 PM ET. The listing marks a turning point for institutional XRP access, but the debut arrived as broader crypto markets extended their medium-term downtrend.
Sentiment remains pinned at fear amid persistent macro risk-off flows. Analysts including FxPro’s Alex Kuptsikevich warn crypto conditions still resemble “a short-term rebound within a larger decline,” with market structure vulnerable to deeper retracements. Large-cap token flows echo that caution, and XRP’s on-chain data showed 110.5M tokens moved between unknown wallets in the hours surrounding the breakdown, amplifying uncertainty during peak volatility.
Price Action Summary
XRP collapsed 7.3% from $2.48 to $2.30 over the 24-hour session, slicing through major support levels at $2.46, $2.40, and $2.36. The decline spanned a violent $0.23 range, with 157.9M XRP traded — 46% above the 24-hour average.
The core breakdown unfolded during a four-minute liquidation cascade from 04:32–04:35 UTC, when price plunged from $2.313 to $2.295 on 6.6M XRP volume — 254% above baseline. The single-minute spike of 4.06M at 04:32 marked the session’s selling climax. Liquidity briefly evaporated as trading flatlined between 04:35–04:36, indicating either halted order flow or severe book thinning.
Attempts to stabilize above $2.31 failed, and XRP settled into narrow consolidation near $2.30–$2.32.
Technical Analysis
The session confirmed a full technical breakdown with clear structural damage:
Support/Resistance:
• $2.29–$2.30 becomes primary support after breach of psychological floor
• Former support at $2.36, $2.40, and $2.47 now act as stacked resistance
• Invalidation for bulls requires a decisive reclaim of $2.36
Volume Profile:
• Total session volume 157.9M (+46%) confirms institutional-grade distribution
• Breakdown sequence showed 254% hourly volume spike, typical of liquidation-driven moves
• No meaningful recovery volume appeared during post-crash consolidation
Chart Structure:
• Descending triangle support failed decisively, killing prior reversal setup
• New lower range forming between $2.29–$2.33
• Breakdown aligns with medium-term downtrend in broader crypto indexes
Momentum Indicators:
• Oversold signals emerging intraday, but no confirmation of trend reversal
• Breakdown occurred below key EMAs; 50D/200D cross continues to slope bearishly
What Traders Should Watch
XRP now sits at a pivotal inflection point:
• Holding $2.29 is essential — failure exposes a fast move into the $2.00–$2.20 demand zone
• Any recovery must first reclaim $2.36 before bulls regain technical control
• ETF inflows will act as the next volatility catalyst; early XRPC volume during market open will indicate whether institutions treat the listing as an accumulation opportunity or liquidity event
• On-chain flows around the 110.5M XRP whale transfers remain a wildcard — exchange inflows would confirm additional downside risk
• Sentiment remains fragile across majors; beta-sensitive assets like XRP will respond disproportionately to broader market weakness
Source: https://www.coindesk.com/markets/2025/11/14/xrp-slides-7-but-etf-launch-sets-stage-for-potential-reversal-above-usd2-36
