XRP fell sharply on Wednesday, breaking below the $1.92 support zone as heightened selling pressure collided with fierce volatility across assets in US trading hours.
The move came amid sharp pullbacks in bitcoin, US stocks and AI-related stocks, leaving altcoins exposed as liquidity thinned and derivatives positioning reset.
News background
- Crypto markets saw violent whipsaw action in early US trading, with bitcoin briefly rising from $87,000 to over $90,000 before retreating back to the $87,000 area
- The turnaround coincided with sharp losses in AI-linked stocks, including Nvidia, Broadcom and Oracle, which fell 3-6%, dragging the Nasdaq down more than 1%.
- Sentiment weakened after reports that Blue Owl Capital pulled out of financing a $10 billion Oracle data center project, which pressured risk assets linked to AI infrastructure.
- The sudden swings triggered over $190 million in crypto liquidations in four hours, with $72 million in longs and $121 million in shorts washed out, according to CoinGlass.
- XRP slightly underperformed the broader market as derivatives-driven flows hit mid-beta altcoins harder during the spike in volatility.
Technical Analysis
- Support: Immediate: $1.90, now the first line of defense Secondary: $1.75–$1.64, deeper liquidity zone if $1.90 fails
- Resistance: Short term: $1.94-$1.99, previous support turned to supply Psychological: $2.00, now firmly rejected
- Volume Structure: Rejection near $1.9885 posted highest volume of the session Increased activity confirms distribution, not passive selling No evidence yet of seller exhaustion
- Trend structure: Breakdown below key Fibonacci retracement changes structure bearish Lower highs formed before rejection signal momentum decay. Consolidation resolved to the downside
- Momentum Check: Failed squeeze above $2.00 acted as a bull trap. Price acceptance below $1.94 keeps the downside bias intact.
What Traders See
- If $1.90 holds – a clean break reveals $1.75-$1.64 quickly.
- Reaction if the price retests $1.94-$1.99 – rejection confirming the continuation of the trend.
- Whether macro volatility eases or continues to force deleveraging across assets.
- Derivatives Positioning After $190M in Liquidations – Direction Depends on Who Reloads First.
- XRP relative performance vs BTC if bitcoin stabilizes near $87,000
