Crypto markets continued to weaken on Tuesday as softening risk appetite and increasingly technical-driven trading weighed on major assets. FxPro analyst Alex Kuptsikevich said the broader market still resembles “a short-term rebound within a larger decline,” warning that deeper pullbacks remain likely unless momentum returns quickly.

ETF activity offered little relief. Canary Capital’s XRPC — the first U.S. spot XRP ETF — logged a strong $58.6 million debut on Nov. 13, but the inflows failed to translate into lasting strength in spot prices. On the derivatives side, roughly $28 million in XRP positions were liquidated over the past 24 hours, with long traders absorbing nearly $25 million of that total — a sign of widespread position unwinding after the latest rejection at resistance.

Altcoins remain vulnerable as institutional desks rotate selectively into assets showing cleaner breakout structures while scaling back exposure near major supply zones, including XRP’s $2.28–$2.30 overhead band.

Price Action

XRP slid 4.58% to $2.18 in the past day, reversing sharply after a failed push above $2.30. The rejection triggered a surge in sell orders, including a 342% volume spike at 14:00 UTC, when 237 million tokens changed hands — the clearest turning point of the session.

The token traded erratically between $2.27 and $2.18 as sellers repeatedly absorbed attempts to reclaim $2.22. Trading flattened out after 17:21 UTC as volume thinned, signaling that institutional flows likely paused while awaiting confirmation around the $2.20 support zone.

XRP briefly bounced from $2.20 to $2.27 late in the session, but momentum faded quickly as resistance held firm.

Key Levels to Watch

• $2.20 support will determine near-term direction. Holding the level could spark another test of the $2.30–$2.40 range.
• A breakdown below $2.18 opens the door to a swift move toward $2.02–$1.98.
• Volume remains critical: rising buy-side activity near $2.20 would hint at accumulation, while light-volume bounces remain vulnerable to renewed selling.
• ETF flows — especially continued XRPC inflows — could help stabilize liquidity if sustained.
• With risk sentiment still fragile, XRP is likely to react sharply to any further weakness in major crypto assets.