Institutional selling wreaked havoc on XRP, but it managed to bounce from $2.75. Macro headwinds still loom large though.

XRP faced a brutal 9% plunge within 24 hours, dropping from $3.02 to as low as $2.75, triggered by intense institutional selling pressure. The volume during the heaviest sell-off surged 183% above the daily average, signaling aggressive exits from large holders.

Despite the sell-off, XRP found short-term support at $2.75, with signs of price exhaustion. However, recovery attempts were capped at $2.84, indicating stiff resistance. The closing price at $2.82 suggests a consolidation phase as traders remain cautious.

Broader macroeconomic headwinds, including escalating global trade tensions and portfolio rebalancing by institutions, are adding to the downward pressure across risk assets like XRP.

Key Price Levels to Watch:

Support: $2.75–$2.76

Resistance: $2.84–$2.85

Market Sentiment:

Volume climax at $2.75 signals potential bottoming.

Buyer fatigue observed as volume declined post-sell-off.

Accumulation interest seen below $2.80, but confirmation is still pending.

What’s Next?

XRP’s next move hinges on whether it can hold above $2.75 and break the $2.85 resistance. Institutional inflows or continued exchange outflows will be key indicators for traders. Macro headlines like U.S.-China trade tensions remain crucial for short-term price direction.