XRP Plunges 8% as Fed Shock and Bitcoin Weakness Combine to Break $2.46 Floor

Why It Matters

The breach signals growing institutional pressure on XRP and underscores how macro‑policy shocks can trigger broader crypto sell‑offs, potentially pressuring liquidity and pricing across the sector.

Summary

XRP fell about 8% on Thursday, sliding from $2.65 to $2.48 and breaking the key $2.46 support level that had anchored its month‑long range. The drop was fueled by intensified institutional selling and was accompanied by a volume spike of roughly 392.6 million tokens—about 400% of its average daily volume—after hawkish signals from the Federal Reserve rattled the broader crypto market. Technical analysis shows a confirmed bearish breakdown, turning the former support into resistance and opening the path to downside targets around $2.30‑$2.40 if the level holds. Traders are advised to watch resistance near $2.46‑$2.50 for any short‑term relief.