- XRP regained $30 billion in market value after a major drop last week.
- The price rose from $2.37 to $2.58 in one of the most active trading sessions this year.
- The rebound followed heavy losses triggered by new U.S. tariffs on China, resulting in massive crypto liquidations.
- Trading volume more than doubled the daily average, with institutional investors leading the surge.
- Analysts are watching if XRP can hold above $2.57 and possibly test higher levels in the coming days.
XRP increased by $30 billion in market value as of October 13 after recovering from a sharp decline the previous week. The cryptocurrency climbed from $2.37 to $2.58, reversing recent losses tied to broader market volatility.
The rebound came after a 50% drop in XRP’s value that occurred when President Trump announced 100% tariffs on Chinese goods. This policy shift led to $19 billion in crypto assets being rapidly liquidated. Despite risk-off conditions in wider equity markets, including a 900-point drop in the Dow and an 820-point loss in the Nasdaq, institutional investors showed strong interest in XRP.
Within a 24-hour window, XRP jumped 8.5%, trading within a $0.22 range from $2.37 to $2.59. The heaviest buying occurred between 2:00 p.m. and 5:00 p.m., when trading volume climbed to 276.8 million, more than twice the daily average of 118 million. Support formed at $2.37, while resistance developed near $2.59. The session closed at $2.58 on volume of 2.3 million trades.
Analysts report that XRP now shows an upward pattern between $2.37 and $2.59. If the price holds above $2.59, it could move toward $2.70 to $2.75, but failure to stay above $2.50 may mean a return to $2.42. The recent close above $2.57 has been seen as a sign of possible trend reversal, especially as institutional trades continue to lead the surge.
Traders are focused on whether XRP can maintain $2.57 as a new support level. They are also watching for any move above $2.59, aiming for targets in the $2.70 to $2.75 range, with a further goal of $3.00. Ongoing global trade policy updates and U.S. Federal Reserve policy statements continue to influence risk appetite across asset classes. Speculation over potential Exchange-Traded Funds (ETFs) and ongoing institutional investment are additional factors supporting the current recovery in XRP’s price.
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