Crypto markets extended their slide on Tuesday as weakening risk appetite and unfavorable technical signals kept pressure on major digital assets. According to FxPro analyst Alex Kuptsikevich, the market continues to resemble “a short-term rebound within a broader downtrend,” cautioning that deeper declines are likely unless buyers regain momentum soon.
ETF flows offered little relief. Canary Capital’s XRPC — the first U.S. spot XRP ETF — posted a strong $58.6 million in debut trading volume on Nov. 13, but the excitement failed to translate into sustained strength for XRP itself. In derivatives markets, roughly $28 million in positions were liquidated over the past 24 hours, with nearly $25 million coming from longs — a clear sign of heavy unwinding after the latest rejection at resistance.
Altcoins remain under pressure as institutional investors continue rotating into assets showing more decisive breakouts while trimming exposure around familiar supply zones, including XRP’s $2.28–$2.30 band.
Market Performance
XRP slid 4.58% to $2.18 over the past day, extending losses following a failed push above $2.30. That rejection set off accelerated downside momentum, highlighted by a 342% surge in trading volume at 14:00 UTC, when 237 million tokens changed hands — the session’s defining turning point.
The token oscillated between $2.27 and $2.18 as sellers repeatedly repelled attempts to reclaim the $2.30 ceiling. Efforts to stabilize above $2.22 proved short-lived. After 17:21 UTC, volume dropped sharply, suggesting institutional participants stepped back to await confirmation around the critical $2.20 support zone.
A brief bounce from $2.20 to $2.27 between 16:50–17:00 UTC quickly faded as overhead resistance remained intact.
Key Levels to Watch
- $2.20 support remains pivotal — holding this zone preserves the potential for a renewed test of the $2.30–$2.40 range.
- A breakdown below $2.18 could open the door to a swift move toward $2.02–$1.98.
- Volume will signal conviction: rising buy-side activity near $2.20 would hint at accumulation, while rebounds on weak volume are likely to falter.
- XRPC ETF flows could help steady liquidity if inflows continue.
With overall sentiment still fragile, XRP remains susceptible to sharp moves if broader large-cap assets resume their decline
Share this content:
