Ripple’s XRP is one of the worst performers among the top 10 cryptocurrencies by market cap, down by more than 6% in the last 24 hours. The bearish performance comes amid a pullback from the broader crypto market, with BTC and Ether also recording huge losses. XRP dips below $2.80 as market reverses recent gains XRP, the native coin of the Ripple ecosystem, lost more than 6% of its value over the last 24 hours. The broader crypto market experienced a flash dump earlier today, with over $1 billion in long positions liquidated from the market. The flash dump saw XRP temporarily drop to the $2.699 region, but it has now slightly recovered and is trading above $2.82 per coin. The bearish performance also overshadowed XRPR’s strong debut. XRPR is the first US-listed XRP ETF. This figure made XRPR the largest ETF debut of 2025, surpassing the Solana ETF launched by Rex-Osprey. The ETF went live on Friday, recording $37.7 million in opening-day volume. However, institutional profit-taking overwhelmed the bullish catalyst, with XRP losing roughly 8% of its value over the last 48 hours. The primary focus in the market this week remains the possibility of the Federal Reserve easing its policies. The Fed chair, Jerome Powell, and nine other FOMC members are set to speak over the next few days, with traders focusing on hints of possible rate cuts before the end of the year. XRP has failed to build on the momentum it gathered in July. The coin has lost momentum in recent weeks and could experience further resistance around the $3.0 mark. XRP eyes $3.0 despite bearish price action The XRP/USD 4-hour chart has turned bearish after the cryptocurrency lost over 8% of its value over the last 48 hours. The bearish performance could result in further selling pressure, with BTC and ETH also recording huge losses. The momentum indicators have switched bearish, with the MACD lines switching into the negative territory over the weekend. The RSI of 38 also shows that XRP is heading into the oversold region if the bearish trend continues. At press time, XRP is trading at $2.82 per coin. If the bearish trend continues, XRP could retest the $2.70 resistance level in the near term. An extended bearish run would see the coin drop below $2.60 for the first time since July. On the flip side, today’s market flush could provide the liquidity to push prices higher. If that happens, XRP could rally towards the first major resistance and TLQ level at $3.02. An extended bullish run would allow Ripple’s native coin could hit the $3.2 region over the next few hours or days. The post XRP slides 6% as market pullback overshadows XRPR’s strong debut appeared first on Invezz
