XRP Falls 6% as Bitcoin Weakness Drags Market Sentiment Lower

XRP has shed nearly $19 billion in market value over the past week, with heavy selling pressure reinforcing resistance at the $2.80 level.

The token’s attempt to reclaim $2.90 unraveled late Thursday, Sept. 25, as a sudden $277 million volume surge knocked prices back to $2.75. The sharp rejection erased seven days of gains and left traders preparing for a potential retest of $2.70 support.

Market Background

XRP dropped 5.83% between Sept. 25–26, sliding from $2.92 to $2.75 amid institutional selling.
A sharp rejection at $2.80 during the 17:00 hour sparked a 276.77 million volume spike, more than 2.5 times the 24-hour average.
Optimism from the SEC’s approval of the first U.S. XRP ETF has been tempered by Fed Chair Jerome Powell’s warnings on stretched valuations and rising Treasury yields.
Market capitalization has contracted by $18.94 billion in the past week, down 10.22%, breaking decisively below the $3.00 psychological level.

Price Action Recap

XRP traded between $2.92 and $2.74 — a 6.3% intraday range — before closing near $2.75.

Sellers dominated after the $2.80 rejection, establishing a distribution zone that capped upside momentum.
Recovery attempts stalled at $2.81–$2.82, confirming fresh resistance clusters.
In the final hour, XRP briefly bounced 1.09% from $2.75 to $2.78, driven by concentrated inflows, with volumes topping 3 million per candle.
Near-term support is seen at $2.75–$2.77, with risk skewed lower toward $2.70 if that floor gives way.

Technical Setup

Range: $0.18 (6.3%) between $2.92 high and $2.74 low.
Resistance: $2.80 rejection zone; $2.81–$2.82 retest clusters.
Support: $2.75 defended late; $2.70 as next key level.
Volume: 276.77M at 17:00 vs. 108.42M daily average.
Pattern: High-volume rejection suggests distribution; short-term consolidation near $2.77 signals indecision.

Key Watchpoints for Traders

Whether $2.75 support holds through the Asia session or cracks toward $2.70.
Ongoing ETF-driven optimism versus persistent sell-the-news flows.
Whale activity after $800M in transfers last week, with downside risk if selling resumes.
Macro backdrop: Powell’s hawkish messaging, climbing Treasury yields, and capped expectations for Fed rate cuts.