• XRP traded defensively, recovering from an early dip to $2.19 as institutional buyers absorbed selling pressure.
• Trading volume surged to 246.7M, nearly triple the 24-hour average, as sellers capitulated near $2.23.
• The SEC's review of six pending spot XRP ETF filings continues, with Ripple planning a $1B treasury raise.
XRP traded defensively but held key supports Friday, recovering from an early dip to $2.19 as institutional buyers absorbed selling pressure. The move came amid renewed U.S.–China tariff fears and cautious positioning ahead of next week’s SEC deadlines for spot XRP ETFs.
What to Know
• XRP oscillated between $2.19 and $2.35 over the 24-hour session from Oct 17, 06:00 to Oct 18, 05:00 — a 7% range.
• Trading volume hit 246.7M during the 07:00 hour, nearly triple the 24-hour average, as sellers capitulated near $2.23.
• Price recovered from a $2.19 low to settle at $2.33, logging a 1% gain from the session open.
• Broader crypto market cap dropped 6% to $3.5T as macro tensions and U.S.–China trade rhetoric spurred risk-off flows.
• SEC review of six pending spot XRP ETF filings continues through Oct 25, alongside Ripple’s planned $1B treasury raise.
News Background
The early-session decline mirrored weakness across the digital asset complex as investors reduced exposure ahead of trade-related headlines and ETF deadlines. Despite a sharp morning drawdown from $2.33 to $2.19, XRP stabilized quickly as market depth recovered on strong buy programs. Ripple’s $1B fundraising initiative for its treasury division bolstered confidence, while analysts framed the move as “controlled rotation” rather than structural weakness.
Price Action Summary
• XRP dropped to $2.19 at 07:00 UTC on 246.7M volume, setting key intraday support.
• Bulls regained control through mid-session, driving a steady climb to $2.33–$2.35 resistance.
• The final 60 minutes (04:22–05:21 UTC) saw a minor flush to $2.32 followed by a rebound to $2.33 (+1.8%), with 1.69M in peak tick volume.
• Consolidation between $2.32–$2.34 formed the new short-term base, validating strong absorption near prior lows.
Technical Analysis
• Support – $2.23–$2.25 remains the key accumulation zone; sub-$2.20 exposure continues to attract long interest.
• Resistance – $2.35–$2.38 intraday band caps upside; breakout confirmation needed above $2.40.
• Volume – Peak at 246.7M during selloff; late-hour surges (~1.7M) signal return of liquidity.
• Trend – Gradual upward bias after morning flush; RSI neutral, MACD stabilizing.
• Structure – Short-term consolidation within $2.19–$2.35 suggests reaccumulation ahead of potential ETF headline catalysts.
What Traders Are Watching
• ETF approval window (Oct 18–25) and potential market repricing once SEC determinations land.
• Whether $2.30 holds as base support through weekend trading.
• Continuation of Ripple’s $1B treasury raise and potential secondary-market implications.
• Broader risk sentiment as tariff escalation dampens altcoin liquidity.
• Technical breakout above $2.40 as signal for rotation back toward $2.70–$3.00 range.
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