Plunges 7%, but Will XRPC ETF Rise on Second Day?
The post Plunges 7%, but Will XRPC ETF Rise on Second Day? appeared on BitcoinEthereumNews.com.
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•…
