Share this article
XRP Slides 3% as Bitcoin Pullback Overshadows Record ETF Launch
The token hovered near $3.00 for most of the day before a midnight crash erased support, plunging 2% on a record 261.22 million volume spike.
Sep 22, 2025, 4:07 a.m.
Make us preferred on Google
What to know:
- XRP experienced a 3.46% drop in a volatile 24-hour period, with prices fluctuating between $3.014 and $2.910.
- The launch of the first U.S.-listed XRP ETF saw record-breaking volume, but institutional profit-taking led to a selloff.
- Analysts highlight resistance near $3.00, despite ETF momentum and potential support from Federal Reserve policy easing.
XRP endured a volatile 24-hour session from September 21 at 03:00 to September 22 at 02:00, swinging 3.46% between a $3.014 high and $2.910 low.
The selloff coincided with the debut of the first U.S.-listed XRP ETF, which set records with $37.7 million in opening-day volume, but institutional profit-taking overwhelmed the bullish catalyst.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
News Background
• First U.S.-listed XRP ETF launched September 21, generating $37.7 million in day-one volume — the largest ETF debut of 2025.
• Federal Reserve policy easing remains in focus, with markets pricing near-certain September rate cuts that typically support digital assets.
• Analysts warn of structural consolidation despite ETF momentum, with resistance persisting near $3.00.
Price Action Summary
• XRP fell 3.46% during the 24-hour period, collapsing from $3.01 to $2.91 before closing at $2.92.
• Midnight crash drove price from $2.973 to $2.910, unleashing 261.22 million in volume — quadruple daily averages.
• Liquidations totaled $7.93 million during the rout, with 90% hitting long positions.
• Final 60 minutes saw XRP rebound from $2.92 to $2.94, only to retreat back to $2.92, creating a resistance cluster at $2.93-$2.94.
Technical Analysis
• Trading range: $0.104 span representing 3.46% volatility between $3.014 high and $2.910 low.
• Resistance established at $2.98-$3.00 following high-volume rejection.
• Support zone formed at $2.91-$2.92, tested repeatedly after the crash.
• Consolidation emerged near $2.92 in final hour as XRP failed to hold above $2.93.
• Volume explosion of 261M confirms institutional selling wave dominating overnight flows.
What Traders Are Watching
• Can XRP reclaim and sustain closes above $3.00, or does resistance at $2.98-$3.00 cap upside?
• How secondary flows from the new ETF affect liquidity, given record-breaking day-one participation.
• Fed’s September rate decision and whether dovish policy sparks renewed crypto inflows.
• Exchange reserves at 12-month highs, signaling potential supply overhang despite institutional interest.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
