XRP Rebounds After Significant Flash Crash, Closing Above $2.47
- XRP fell from $2.77 to $1.64, marking a 41% intraday collapse on October 10-11.
- Over $150 million in XRP futures were liquidated due to macroeconomic factors.
- Intraday trading volume reached 817 million, nearly triple the recent average.
- Institutional buying occurred between $2.34 and $2.45, indicating renewed interest.
- Key resistance remains at $3.05, with potential upside projections toward $3.65–$4.00.
The sharp decline in XRP was triggered by newly announced U.S.–China tariffs, leading to forced unwinds across risk assets and significant liquidations in the futures market. The recovery was characterized as an institutional recalibration rather than retail-driven volatility, with strong bids absorbing panic selling.
XRP’s price rebounded to close at $2.49 after hitting a low of $1.64, demonstrating resilience amid high volatility and substantial trading activity (Source).
