coindesk.com
$XRP fell as much as 6% over the past 24 hours as global economic tensions rattled financial markets, triggering a wave of liquidations and pushing prices below key support levels.
The token dropped from $2.20 to $2.14 as the broader crypto market shed 3.81% of its value, settling at a total market cap of $3.3 trillion.
The volatility comes in the wake of the U.S. Court of International Trade’s decision to overturn Trump’s trade tariffs, reigniting trade policy concerns and sending ripples across risk assets.
$XRP wasn’t immune, with over $29.68 million in long positions liquidated as traders scrambled to adjust their exposure.
News Background
- China-based Webus International said Friday it plans to raise up to $300 million through non-equity financing to support its global chauffeur payment network with an $XRP reserve.
- The initiative aims to integrate $XRP’s cross-border settlement capabilities into Webus’ ecosystem, including on-chain booking records and a Web3-based loyalty program.
- Webus is renewing its partnership with Tongcheng Travel Holdings to use the $XRP Ledger for settling cross-border rides and driver payouts.
- Bitget listed Ripple's RLUSD stablecoin late Thusday.
- Ripple published a cross-border payments report on Friday. Cross-border payments underpin the $31.6 trillion B2B market, projected to hit $50 trn by 2032. Traditional multi-intermediary rails are slow, costly and opaque, facing regulatory and transparency hurdles.
- Blockchain-based solutions like Ripple’s stablecoin network promise near-instant, cheaper, visible settlement, enhancing liquidity, global expansion, talent payments and customer trust, while reducing failed transfers, the report said.
Price-Action
Technically, $XRP found strong selling pressure at the $2.21 resistance level, failing to mount a sustained recovery. A notable support zone emerged near $2.11, with high-volume buying during the 03:00 hour preventing further downside.
Recent consolidation between $2.13 and $2.14 suggests potential stabilization — though the pattern of lower highs indicates sellers remain in control.
In the final trading hour, $XRP formed a higher-low pattern around $2.135, signaling potential short-term support.
However, the token also faced resistance at $2.144-$2.145, forming a tight range that traders will be watching closely for the next breakout or breakdown.
Technical Analysis Recap
- $XRP dropped 5.7% from $2.20 to $2.14 over the past 24 hours.
- A price range of $0.13 (5.9%) was observed between a high of $2.22 and a low of $2.09.
- Significant resistance formed at $2.21 during the 16:00 and 22:00 hours, triggering heavy selling.
- Strong buying at $2.11 during the 03:00 hour prevented further downside.
- Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though lower highs persist.
- A higher low at $2.135 formed in the last hour, with resistance at $2.144-$2.145 capping any rebound.
- $XRP closed the session at $2.137, indicating consolidation after a volatile day.
As $XRP navigates the crosswinds of macroeconomic tensions and technical headwinds, traders will be closely watching for any signs of sustained support or further breakdown.