Plunges 5% as Bitcoin Falls Under $93,000

XRP retreated sharply from the $2.30 ceiling on Tuesday as profit-taking overwhelmed buying interest, with a surge in institutional volume confirming that resistance remains structurally intact.

News Background

Broader crypto markets remain under pressure as risk sentiment softens and technical signals dominate short-term trading behavior across majors. According to FxPro’s Alex Kuptsikevich, crypto conditions still resemble “a short-term rebound within a larger decline,” with market structure pointing toward deeper retracements unless momentum re-accelerates.

ETF flows have also turned mixed: Canary Capital’s XRPC — the first U.S. spot XRP ETF — posted $58.6M in opening-day volume on Nov. 13, outperforming expectations but failing to generate sustained upside in spot markets. Meanwhile, derivatives data shows $28M in XRP liquidations over the last 24 hours, with long positions accounting for nearly $25M of that total, highlighting aggressive unwinding during the resistance rejection.

Sentiment across altcoins remains fragile as institutional traders rotate capital selectively, prioritizing assets showing stronger breakouts while trimming exposure into overhead supply zones like XRP’s $2.28–$2.30 band.

Price Action Summary

XRP dropped 4.58% to $2.18 over the 24-hour session, reversing sharply after a failed breakout attempt at $2.30. The rejection triggered heavy selling waves, with a 342% volume spike at 14:00 UTC — 237M tokens traded — marking the session’s inflection point.

The token carved volatile swings between $2.27 and $2.18 as sellers aggressively defended $2.30. Attempts to stabilize above $2.22 were met by renewed pressure. Late-session trading delivered extended flat-volume periods after 17:21 UTC, suggesting institutional flows paused until clearer confirmation emerges around the $2.20 floor.

Despite the decline, XRP briefly rallied from $2.20 to $2.27 at 16:50–17:00 UTC, but momentum failed as resistance remained firmly intact.

What Traders Should Watch

• $2.20 is the battleground. A hold sets up another attempt toward $2.30–$2.40.
• Failure below $2.18 exposes a rapid drop toward $2.02–$1.98.
• Volume confirmation will dictate direction — rising buy volume at $2.20 signals accumulation; low-volume bounces remain vulnerable.
• ETF flows remain a key short-term catalyst. Sustained XRPC inflows would bolster spot liquidity.
• Broader sentiment remains fragile; XRP will be highly sensitive to any renewed risk-off move in majors.