XRP price suffers 17% plunge
Ripple’s $XRP has been the hardest hit in the ongoing crypto sell-off, nearly collapsing. 17% Approximately from the last 24 hours $2.34. This decline followed the decline in Bitcoin. $120,000 to $111,000 And the fall of Ethereum $4,000panic spread in the world market as follows. President Trump’s 100% tariffs announcement About Chinaeffective November 1st.
XRP/USD 1 day chart – TradingView
The rapid decline wiped billions of dollars off XRP’s market capitalization and triggered widespread liquidations across derivatives exchanges.
Chart Analysis: XRP breaks major support
As shown in the chart above, XRP has just suffered. Technical breakdown After losing a nearby important support zone $2.75 and fall under both 50-day SMA ($2.91) and 200 day SMA ($2.57).
Main findings:
- Support lost: The $2.75 and $2.50 levels have turned into resistance.
- The following support levels: $2.20 and $1.80.
- Resistance to recall: $2.75 (original basis) and $3.00 psychological barrier.
- The chart also shows: downtrend line Before the crash, it was rejected near $3.00, confirming bearish momentum.
This movement is maximum loss per day XRP has been trading below its long-held moving average since early 2024, suggesting further declines are possible if market sentiment remains negative.
Market conditions: President Trump’s tariff shock causes panic
The entire virtual currency market is in turmoil President Trump announces 100% tariffs Start of all imports from China November 1st.
This movement caused a wave of risk-off emotions We pump investors into cash and stable assets across global markets.
- $Bitcoin plummeted 7% around $113,000.
- $Ethereum falls 10%currently hovering nearby $3,900.
- $Solana, $BNB, $XRP have all been seen double digit loss Due to increased selling pressure.
Analysts say this type of macro-driven crash often leads to: short term panicfollowed by selective recovery Once the market stabilizes.
On-chain and data exchange: rapid depletion of liquidity
The exchange data shows that Massive exodus from Binance and Coinbase Especially for XRP and ETH, which accelerated during the crash.
Multiple on-chain trackers pointed out Fast transfer of XRP Signal for mass liquidation from cold wallet to exchange.
Some traders doubt that market manipulation It is by a major company and others believe that this is Liquidity-driven correction Amplified by macro fears and stop-loss cascades.
XRP Price Prediction: What’s next for XRP?
If XRP cannot maintain the above $2.20the following important support can be found at: $1.80a level not tested since mid-2024.
However, if the bull manages to get it back; $2.75will rebound in the short term $3.00–$3.10 It might be possible.
- Bullish scenario: Strong buying near $2.20-$2.30 could prompt a recovery towards $2.75 and $3.00.
- Bearish scenario: Bitcoin’s continued decline could see XRP drop below $2.00 due to widespread market anxiety, potentially prolonging the correction.
