Bitcoin Drop Weighs on Market, XRP Slips 6%

XRP has lost nearly $19 billion in capitalization over the past week after failing to sustain momentum above $2.90. A sharp rejection at $2.80 on Sept. 25 triggered heavy liquidations, sending the token back toward $2.75 and pressuring sentiment across the market.

Market Developments

XRP dropped 5.83% from $2.92 to $2.75 between Sept. 25–26, led by concentrated institutional selling.
A $277 million volume spike during the 17:00 hour marked the reversal, more than doubling the daily average turnover.
Optimism around the SEC’s approval of the first U.S. XRP ETF has been overshadowed by Fed Chair Jerome Powell’s hawkish tone and rising Treasury yields.
XRP’s market cap has contracted by 10.22% over seven days, losing $18.94 billion and slipping under the $3.00 threshold.

Price Action

The token traded in a $0.18 band, ranging between $2.92 and $2.74, before settling near $2.75.

The $2.80 rejection created a distribution zone, cutting off upside momentum.
Attempts to retake $2.81–$2.82 failed, reinforcing new resistance.
Late in the session, a brief 1.09% rebound lifted XRP from $2.75 to $2.78 on strong flows, with candles exceeding 3 million in volume.
Short-term support is clustered at $2.75–$2.77, with risk of a slide to $2.70 if that zone breaks.

Technical Picture

Range: 6.3% intraday swing between $2.92 and $2.74.
Resistance: $2.80 rejection; $2.81–$2.82 capped recovery.
Support: $2.75 base in late trade; $2.70 next critical level.
Volume: 276.77M at peak vs. 108.42M daily average.
Pattern: High-volume rejection points to distribution; consolidation near $2.77 signals uncertainty.

Focus for Traders

Can $2.75 hold through the Asia session, or will selling pressure extend toward $2.70?
Will ETF optimism outweigh “sell-the-news” positioning?
Whale flows remain in focus after $800M in recent transfers.
Macro backdrop remains bearish with Powell’s caution on valuations, higher Treasury yields, and limited Fed rate-cut prospects.