XRP Recovers from Dip Amid Market Turbulence and ETF Speculation

NEW YORK, NY — XRP cryptocurrency showed resilience on Friday, recovering from an early dip to $2.19 as large buyers stepped in to absorb selling pressure. The price fluctuations occurred amidst growing concerns over U.S.–China tariffs and nervous positioning ahead of upcoming SEC decisions on six pending spot XRP ETF filings.

During the 24-hour trading session from October 17 at 6:00 a.m. UTC to October 18 at 5:00 a.m. UTC, XRP fluctuated between $2.19 and $2.35, representing a 7% trading range. Trading volume surged to 246.7 million, nearly triple the average for a typical day, as sellers capitulated around the $2.23 mark.

By the close of the session, XRP managed to settle at $2.33, a 1% increase from the session open. However, the broader cryptocurrency market cap experienced a 6% decline, dropping to $3.5 trillion as macroeconomic fears stoked risk-off trading behavior.

The SEC is expected to continue its review of the six pending ETF filings until October 25, coinciding with Ripple‘s announced plan to raise $1 billion for its treasury. This fundraising effort is seen as a boost to market confidence, with analysts claiming it represents a “controlled rotation” rather than signs of structural weakness.

XRP’s early decline reflected a general downturn in digital assets as investors adjusted their risk exposure ahead of significant trade-related news. Despite the initial drop from $2.33 to $2.19, XRP efficiently stabilized due to robust buying interest.

Market analysts are keeping a close eye on key price levels as trading conditions evolve. The support zone is identified between $2.23 and $2.25, while resistance is noted between $2.35 and $2.38. A breakout above $2.40 could signal a shift back toward the $2.70 to $3.00 range.

Traders are particularly focused on whether the $2.30 level will hold as support, the ongoing implications of Ripple’s treasury raise, and how tariff tensions will affect overall market liquidity.