“Analysts caution that the market remains vulnerable to further declines, with large token movements and macroeconomic factors contributing to uncertainty.”, — write: www.coindesk.com
News BackgroundXRP’s worst intraday decline in weeks coincided with a major industry milestone: the launch of the first US 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 SummaryXRP 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 the 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 a narrow consolidation near $2.30–$2.32.
Technical AnalysisThe 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, $2.40and $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 shown 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 WatchXRP now sits at a pivotal inflection point:
• Holding $2.29 is essential — failure exposes a fast move into the $2.00 to $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
Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.
View Full Report
The firm’s CEO says it has ‘filed everything that falls under the generic listing standards’ as SEC approval barriers remain high.
- Canary Capital says it has filed for all crypto ETFs currently eligible under the SEC’s generic listing standards.
- The firm will shift focus to managing products like its newly launched XRP ETF, which opened with $58M in trading volume.
- CEO Steve McClurg says further filings will depend on regulatory changes or new assets meeting SEC requirements.
Read full story