XRP Extends Losses, Slips Into Downtrend Channel With $2.75 Support in Focus After ETF Selloff

Institutional Selling Overpowers ETF Hype, XRP Stuck Near $2.83 as Breakdown Risks Mount

XRP endured one of its heaviest trading sessions of 2025, sliding nearly 5% as institutional selling overwhelmed optimism from the REX-Osprey ETF debut. The sharp reversal erased over $11 billion in market value and left the token clinging to key $2.77 support.

Market Context

The first U.S. XRP ETF (REX-Osprey) launched with a record $37.7 million in day-one trading, the biggest ETF debut of 2025.
Whale wallets shifted $812 million in XRP between unidentified addresses during the selloff.
Crypto markets saw $1.7 billion in liquidations, with 90% concentrated in long positions.
U.S. inflation cooled to 2.18% in September, bolstering bets on a 50 bps Fed rate cut before year-end.
Bitcoin dominance climbed to 57.7%, reflecting capital rotation away from altcoins.

Price Action

XRP fell from $2.87 to $2.77 between Sep. 22 03:00 and Sep. 23 02:00 GMT, a 4.9% decline across a $0.14 range.
A flash crash at 06:00 GMT drove the token from $2.87 to $2.77 on 656.1M volume — six times its daily average.
Multiple intraday rejection wicks reinforced $2.87 as hard resistance.
A brief rebound peaked at $2.86 before stalling, followed by afternoon consolidation between $2.83–$2.87.
In the final hour, sellers pushed the close to $2.83, down 0.7% from the session’s secondary peak.

Technical Setup

Support: $2.77 remains the critical floor; $2.82 seen as a retest level.
Resistance: Strong supply at $2.87, with lower highs confirming a downtrend channel.
Volume: Flash crash turnover at 656.1M vs. 105M average points to heavy institutional exits.
Trend: Bearish short-term structure with lower highs ($2.856) and lower lows ($2.83).
Indicators: Momentum tilting negative; a breakdown below $2.82 could expose $2.75–$2.70.