Overview
- XRP slid roughly 6–8% intraday and broke the $2.46 floor on an outsized volume spike near 392.6 million tokens, according to CoinDesk data.
- Trading has stabilized in a $2.35–$2.45 band as participants watch whether the price can reclaim about $2.50 to restore upside momentum.
- Hawkish Federal Reserve signals and weakness in Bitcoin were cited as drivers of the risk-off move that pressured XRP and other tokens.
- With $2.46 now acting as resistance, analysts highlight downside risk toward $2.30–$2.35 if $2.40 fails, with some models pointing to $1.94 on further weakness.
- On-chain readings show liquidity clusters around $2.40 that some observers view as positioning by larger holders awaiting direction.