XRP recovered $30 billion in market capitalization following last week's tariff-induced decline, soaring from $2.37 to $2.58 amid substantial institutional trading activity. This recovery marked one of the year's most significant trading sessions, confirming strong dip-buying momentum as investors adjust positions ahead of new macroeconomic developments.
Market Context
The rebound follows a 50% market crash triggered by President Trump's announcement of 100% tariffs on China, which caused $19 billion in cryptocurrency liquidations within minutes. Renewed buying pressure has since restored market confidence, with analysts monitoring potential for a weekly close above $3.12 that would represent XRP's strongest performance since its launch. While broader markets remain risk-averse—Dow down 900 points, Nasdaq down 820—crypto trading desks reported selective institutional investments flowing into XRP.
Price Movement Overview
- XRP surged 8.5% between October 12 05:00 and October 13 04:00, trading in a $0.22 (9%) range from $2.37 to $2.59
- Significant breakout activity occurred during 14:00–17:00 as trading volumes peaked at 276.8 million—more than double the daily average of 118 million
- Strong support established at $2.37 with high-volume reversals; resistance formed near $2.59
- Late-session momentum pushed through $2.57, closing at $2.58 with 2.3 million in turnover, confirming continuation pattern
Technical Perspective
Chart analysis reveals a clear ascending channel with base at $2.37 and upper boundary at $2.59. Sustained closes above $2.59 could target $2.70–$2.75 range, while failure to maintain $2.50 support risks pullback toward $2.42. Momentum indicators remain bullish with institutional activity driving each upward movement. Market analysts identify the breakthrough above $2.57 as confirmation of short-term trend reversal, with continued volume support maintaining positive bias.
Key Market Focus Points
- Whether $2.57 level holds as new support base
- Break above $2.59 resistance to target $2.70–$2.75 range; extended target above $3.00
- Trade-war developments and Federal Reserve commentary influencing cross-asset risk sentiment
- ETF speculation and institutional capital flows supporting post-crash recovery momentum