17.10.2025 11:22
XRP's valuation has taken a turbulent turn today, October 17th, experiencing a substantial decline as it struggles to maintain any positive momentum. The digital asset witnessed a sharp 7.54% drop in value, falling to $2.21 per unit, a move triggered by its failure to hold the critical support level at $2.47. This sudden downturn reflects a broader market vulnerability compounded by persistent global macroeconomic challenges.
The significant price contraction has been mirrored by a considerable shift in market dynamics. XRP's market capitalization contracted by 7.32%, while its 24-hour trading volume exploded by an astonishing 62.9%, reaching $8.89 billion, according to data from various internet sources. This surge in volume, characterized by large red candles on the charts, signals widespread panic selling as investors hastily divest their holdings to mitigate exposure to the altcoin.
Technical indicators reinforce the prevailing bearish sentiment surrounding XRP. The Relative Strength Index (RSI) currently sits at a low 28.92, suggesting the asset is deep in oversold territory, while the Average Directional Index (ADX) at 37.39 indicates a strong downtrend in motion. For any chance of recovery, XRP must staunchly defend the crucial $2.20 support level; a breach could lead to further depreciation, potentially testing the next psychological floor around $2.00.
Despite recent strategic advancements, such as Ripple's acquisition of treasury firm GTreasury aimed at bolstering its liquidity and payment infrastructure, the token has been unable to withstand the overwhelming selling pressure. These positive developments were ultimately overshadowed by the broader market's negative trajectory, which has been notably bearish since a $19 billion liquidation event last Friday. This widespread market slump, impacting the total cryptocurrency market cap by nearly 6% to $3.5 trillion, is largely attributed to escalating global macroeconomic pressures and geopolitical tensions, leaving even market leaders like Bitcoin, trading around $105,182, and Ethereum, hovering near $3,736, susceptible to the prevailing volatility.
