The rapid selloff wiped out billions from XRP’s market capitalization and triggered widespread liquidations across derivatives exchanges.
Chart Analysis: XRP Breaks Major Support
As shown in the above chart, XRP just suffered a technical breakdown after losing the crucial support zone near $2.75 and plunging below both the 50-day SMA ($2.91) and 200-day SMA ($2.57).
Key observations:
- •Support lost: $2.75 and $2.50 have flipped into resistance.
- •Next support levels: $2.20 and $1.80.
- •Resistance to reclaim: $2.75 (former base) and $3.00 psychological barrier.
- •The chart also shows a descending trendline rejection near $3.00 before the crash, confirming bearish momentum.
This move marks the largest single-day loss for XRP since early 2024, pushing it below long-held moving averages and signaling potential for more downside if market sentiment stays negative.
Market Context: Trump’s Tariff Shock Sparks Panic
The entire crypto market is reeling from Trump’s 100% tariff announcement on all Chinese imports starting November 1st.
This move triggered a wave of risk-off sentiment across global markets, sending investors into cash and stable assets.
- •$Bitcoin fell over 7% to around $113K.
- •$Ethereum dropped 10%, now hovering near $3,900.
- •$Solana, $BNB, and $XRP all saw double-digit losses as selling pressure intensified.
Analysts say that this kind of macro-driven crash often leads to short-term panic, followed by selective recovery once markets stabilize.
On-Chain and Exchange Data: Liquidity Drains Fast
Exchange data shows that major outflows from Binance and Coinbase accelerated during the crash, particularly for XRP and ETH.
Several on-chain trackers noted rapid transfers of XRP from cold wallets to exchanges, signaling mass liquidations.
While some traders suspect market manipulation by large players, others argue this was a liquidity-driven correction amplified by macro fear and stop-loss cascades.
XRP Price Prediction: What’s Next for XRP?
If XRP fails to hold above $2.20, the next key support lies at $1.80, a level not tested since mid-2024.
However, if bulls manage to reclaim $2.75, a short-term rebound toward $3.00–$3.10 could be possible.
- •Bullish scenario: Strong buying near $2.20–$2.30 could fuel a recovery toward $2.75 and $3.00.
- •Bearish scenario: Continued Bitcoin weakness and broader market fear could drag XRP below $2.00, extending the correction.