Overview

• XRP plunged intraday to roughly $1.64 before recovering to about $2.4–$2.5, with CoinDesk later noting a close above $2.47 as late-session bids stabilized price.
• Derivatives markets saw heavy stress, including an estimated $150 million drop in futures open interest and long liquidations far exceeding shorts.
• Turnover spiked, with trading volumes reported at roughly 164% above the 30‑day average and peak hourly volume near 817 million during the liquidation wave.
• Several outlets linked the selloff to President Trump’s new U.S.–China tariff announcement, which set off risk‑off moves across crypto and other assets.
• On‑chain signals were mixed as trackers cited about 320 million XRP moving to exchanges and whale outflows near $50 million per day, while some data providers reported large-holder accumulation after the drop; key levels flagged include support around $2.30–$2.50 and resistance near $2.84–$3.05.