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.