Crypto markets extended their decline on Tuesday as weakening risk sentiment and technical trading patterns continued to dictate short-term price action across major assets. FxPro analyst Alex Kuptsikevich said the recent bounce in digital assets still appears to be “a short-term rebound within a larger decline,” adding that the broader market structure remains vulnerable unless buyers regain momentum.
ETF flows offered mixed signals. Canary Capital’s XRPC — the first U.S. spot ETF tied to XRP — generated a strong $58.6 million in debut volume on Nov. 13, but the enthusiasm failed to support spot markets. Derivatives data showed $28 million in XRP liquidations in the last 24 hours alone, with nearly $25 million coming from long positions, reflecting aggressive unwinding after buyers were rejected at key resistance levels.
Across altcoins, sentiment remains cautious. Institutional traders are selectively rotating capital into clearer breakout setups while trimming exposure at overhead supply zones such as XRP’s heavily defended $2.28–$2.30 area.
Price Action Breakdown
XRP declined 4.58% to $2.18 over the past day, reversing sharply after failing to break above $2.30. The rejection sparked intense sell pressure, including a 342% explosion in volume at 14:00 UTC when 237 million tokens traded hands — the session’s defining turning point.
From there, XRP oscillated between $2.27 and $2.18 as sellers consistently absorbed attempts to reclaim the $2.22 level. After 17:21 UTC, trading activity flattened as volume thinned, suggesting institutional desks stepped back to wait for clarity on whether the $2.20 floor would hold.
A brief rebound from $2.20 to $2.27 around 16:50–17:00 UTC quickly faded as resistance remained firmly intact.
Levels & Signals to Monitor
- $2.20 support is critical; defending this level could set up another move toward the $2.30–$2.40 band.
- A break below $2.18 risks a fast drop toward $2.02–$1.98.
- Volume confirmation will be essential: rising buy-side activity around $2.20 signals accumulation, while weak-volume bounces suggest continued vulnerability.
- XRPC ETF flows may influence short-term liquidity and sentiment; sustained inflows would be constructive.
- With risk appetite fragile across majors, XRP remains highly sensitive to broader market weakness.
About The Author
More Stories
XRP Posts an 89% Surge Over the Past Year While Bitcoin, Ether, and the CD20 Index Lag With Mild Performance
BTC Dips Below $93K as Market Pressure Mounts, but Short-Term Support May Hold, Experts Say
Bitcoin’s Looming ‘Death Cross’ Sparks Concerns Over Dogecoin’s Next Move