XRP experienced a drop from $2.305 to $2.163 following a U.S. court ruling that impacted investor confidence and reduced the total crypto market cap by 3.1% to $3.35 trillion. This sell-off occurred as the cryptocurrency market reacted to the overturning of Trump-era trade tariffs.
However, VivoPower, a renewable energy company, raised $121 million to establish an XRP-focused treasury reserve. Additionally, Webus International, based in China, announced plans late Thursday to raise up to $300 million in cash for an XRP strategic reserve. These developments have raised hopes for institutional adoption potentially stabilizing XRP.
XRP saw capitulation selling with volume spiking to 174.7 million units, nearly four times the average 24-hour volume. Prices found support around $2.16 before rebounding to $2.22. Analysts are monitoring resistance at $2.23, which could determine XRP's stability.
Hourly charts showed a V-shaped recovery attempt, but resistance around $2.204 limited gains, with prices consolidating between $2.195 and $2.196. Technical indicators suggest that failure to hold $2.31 support could lead to a 16% drop toward $1.96.
Traders anticipate further volatility as XRP navigates macroeconomic uncertainty and growing institutional interest.
This article is based on our author's analysis of materials.