XRP traded defensively but held key support on Friday, recovering from an early drop to $2.19 as institutional buyers absorbed selling pressure. The move came amid renewed fears of US-China tariffs and cautious positioning ahead of next week’s SEC deadlines for spot XRP ETFs.
What to know
• XRP fluctuated between $2.19 and $2.35 during the 24-hour session from October 17 at 06.00 until 18 October at 05.00 – an interval of 7%.
• Trading volume reached DKK 246.7 million. during 7 a.m., nearly tripled the 24-hour average as sellers capitulated near $2.23.
• Price recovered from a low of $2.19 to settle at $2.33, making a 1% gain from the open of the session.
• Broader crypto market cap fell 6% to $3.5T as macro tensions and US-China trade rhetoric spurred risk flows.
• SEC review of six pending spot XRP ETF filings continues through October 25, along with Ripple’s planned $1 billion USD increase in the treasury.
News background
The early-session decline reflected weakness across the digital asset mix as investors reduced exposure ahead of trade-related headlines and ETF deadlines. Despite a sharp morning decline from $2.33 to $2.19, XRP quickly stabilized as market depth recovered on strong buying programs. Ripple’s $1bn fundraising initiative for its treasury department bolstered confidence, while analysts framed the move as “controlled rotation” rather than structural weakness.
Summary of price action
• XRP fell to $2.19 at 07:00 UTC of 246.7 million volume, which keyed intraday support.
• Bulls regained control mid-session, driving a steady rise to $2.33-$2.35 resistance.
• The last 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.
• Consolidation between $2.32-$2.34 formed the new short-term base, confirming strong absorption near previous lows.
Technical Analysis
• Support – $2.23–$2.25 remains the key accumulation zone; exposure below $2.20 continues to attract long interest.
• Resistance – $2.35–$2.38 intraday band caps upward; breakout confirmation required above $2.40.
• Volume – Peak at 246.7 million. during sale; increases in late hours (~1.7m) signal the return of liquidity.
• Tendency – Gradual upward bias after flushing in the morning; RSI neutral, MACD stabilizing.
• Structure – Short-term consolidation within $2.19-$2.35 suggests re-accumulation ahead of potential ETF parent catalysts.
What Traders See
• ETF approval window (October 18-25) and potential market price change when SEC regulations land.
• About $2.30 holds as base support through weekend trading.
• Continuation of Ripple’s $1B treasury raise. and potential implications for the secondary market.
• Broader risk sentiment as rate escalation dampens altcoin liquidity.
• Technical breakout above $2.40 as signal for rotation back towards $2.70-$3.00 range.
