XRP experienced significant volatility between September 21 at 03:00 and September 22 at 02:00, recording a 3.46% decline while trading between $3.014 high and $2.910 low.
The price drop occurred alongside the launch of the first US-listed XRP ETF, which achieved a record $37.7 million in opening day volume. However, institutional profit-taking overshadowed this bullish development.
Market Context
• First US XRP ETF launched September 21 with $37.7 million volume - 2025's largest ETF debut
• Federal Reserve easing policies remain key focus, with markets anticipating September rate cuts that typically benefit digital assets
• Analysts note structural consolidation patterns despite ETF momentum, with resistance maintaining near $3.00
Price Movement Analysis
• XRP declined 3.46% over 24 hours, falling from $3.01 to $2.91 before settling at $2.92
• Midnight selloff drove prices from $2.973 to $2.910, generating 261.22 million volume - four times daily average
• $7.93 million in liquidations occurred during decline, with 90% affecting long positions
• Final hour saw XRP rebound from $2.92 to $2.94 before retreating to $2.92, establishing resistance at $2.93-$2.94
Technical Outlook
• Trading range: $0.104 spread representing 3.46% volatility between $3.014 high and $2.910 low
• Resistance formed at $2.98-$3.00 following high-volume rejection
• Support zone established at $2.91-$2.92, tested multiple times post-decline
• Consolidation developed near $2.92 as XRP struggled to maintain above $2.93
• Volume surge to 261M confirms institutional selling dominating overnight activity
Market Focus Areas
• Whether XRP can recover and sustain levels above $3.00, or if $2.98-$3.00 resistance limits upward movement
• Impact of secondary flows from new ETF on market liquidity given record-breaking initial participation
• Federal Reserve's September rate decision and potential for dovish policy to drive crypto inflows
• Exchange reserves at 12-month highs indicating possible supply pressure despite institutional interest