1 week ago
XRP’s propulsion supra $2.90 collapsed nether dense selling connected Sept. 25, with a $277 cardinal measurement spike hammering terms backmost to $2.75.
The determination erased much than $18 cardinal successful marketplace worth implicit the past week and confirmed caller absorption astatine $2.80, leaving traders bracing for a trial of $2.70 support.
News Background
• XRP slid 5.83% implicit the Sept. 25–26 session, falling from $2.92 to $2.75 connected dense organization selling.
• A crisp rejection astatine $2.80 during the 17:00 hr triggered a 276.77 cardinal measurement spike — much than 2.5x the 24-hour average.
• Despite SEC support of the archetypal U.S. XRP ETF, optimism has been offset by Powell’s warnings connected valuations and rising Treasury yields.
• Over the past week, XRP’s marketplace worth has contracted by $18.94 billion, down 10.22%, breaking beneath the $3.00 intelligence threshold.
Price Action Summary
XRP traded betwixt $2.92 and $2.74 — a 6.3% intraday scope — earlier closing adjacent $2.75.
• Sellers dominated aft $2.80 rejection connected utmost volume, creating a organisation portion that capped further upside.
• Subsequent betterment attempts stalled astir $2.81–$2.82, confirming caller absorption clusters.
• Final hr saw a little 1.09% bounce from $2.75 to $2.78, driven by concentrated flows betwixt 00:50–00:57 connected volumes supra 3 cardinal per candle.
• Short-term enactment is present seen astatine $2.75–$2.77, with downside hazard toward $2.70 if breached.
Technical Analysis
• Range: $0.18 (6.3%) betwixt $2.92 precocious and $2.74 low.
• Resistance: $2.80 archetypal rejection; $2.81–$2.82 clusters formed connected failed retests.
• Support: $2.75 portion defended successful precocious session; $2.70 intelligence level adjacent watch.
• Volume: 276.77M astatine 17:00 vs. 108.42M regular average.
• Pattern: High-volume rejection signals distribution. Short-term consolidation adjacent $2.77 suggests indecision earlier adjacent move.
What Traders Are Watching
• Whether $2.75 holds done Asia league oregon breaks toward $2.70.
• ETF optimism versus existent wealth outflows — sell-the-news signifier remains successful play.
• Whale flows aft $800M successful transfers implicit past week; positioning hazard if selling resumes.
• Macro overhang: Powell’s hawkish tone, Treasury yields climbing, Fed chopped expectations capped.
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