Markets, AI Market Insights, News The token hovered near $3.00 for most of the day before a midnight crash erased support, plunging 2% on a record 261.22 million volume spike.
XRP endured a volatile 24-hour session from September 21 at 03:00 to September 22 at 02:00, swinging 3.46% between a $3.014 high and $2.910 low.
The selloff coincided with the debut of the first U.S.-listed XRP ETF, which set records with $37.7 million in opening-day volume, but institutional profit-taking overwhelmed the bullish catalyst.
News Background
• First U.S.-listed XRP ETF launched September 21, generating $37.7 million in day-one volume — the largest ETF debut of 2025.
• Federal Reserve policy easing remains in focus, with markets pricing near-certain September rate cuts that typically support digital assets.
• Analysts warn of structural consolidation despite ETF momentum, with resistance persisting near $3.00.
Price Action Summary
• XRP fell 3.46% during the 24-hour period, collapsing from $3.01 to $2.91 before closing at $2.92.
• Midnight crash drove price from $2.973 to $2.910, unleashing 261.22 million in volume — quadruple daily averages.
• Liquidations totaled $7.93 million during the rout, with 90% hitting long positions.
• Final 60 minutes saw XRP rebound from $2.92 to $2.94, only to retreat back to $2.92, creating a resistance cluster at $2.93-$2.94.
Technical Analysis
• Trading range: $0.104 span representing 3.46% volatility between $3.014 high and $2.910 low.
• Resistance established at $2.98-$3.00 following high-volume rejection.
• Support zone formed at $2.91-$2.92, tested repeatedly after the crash.
• Consolidation emerged near $2.92 in final hour as XRP failed to hold above $2.93.
• Volume explosion of 261M confirms institutional selling wave dominating overnight flows.
What Traders Are Watching
• Can XRP reclaim and sustain closes above $3.00, or does resistance at $2.98-$3.00 cap upside?
• How secondary flows from the new ETF affect liquidity, given record-breaking day-one participation.
• Fed’s September rate decision and whether dovish policy sparks renewed crypto inflows.
• Exchange reserves at 12-month highs, signaling potential supply overhang despite institutional interest.
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