Why Is XRP price crashing today? Sept 25

XRP price drops below key support levels as the broader crypto market starts to weaken amidst liquidation-driven selloffs. What could be driving this current downturn and is there a chance to rebound?

Summary

XRP price has broken below the $3.00 level as heavy liquidations and profit-taking dragged the token toward the critical $2.80 support.
Despite ETF buzz and upcoming launches, XRP has seen outflows of $68.63 million, with its failure to hold key resistance zones fueling concerns of further downside.

In the past few hours, XRP price has fallen lower under the $3.00 as it barely hangs on above the $2.80 range. On September 25, the token dropped by 1.09%, continuing its downward trend since the crypto market mass liquidations occurred earlier this week.

Prior to the drop, XRP (XRP) had been moving relatively strong; with some traders likely taking profits near resistance levels. Technical analysts have noted that XRP’s failure to surpass the $3.18 to $3.20 range dragged it down to $2.75, which brought it to potential downside risk.

Even though the REX-Osprey XRP ETF made a splash on its debut, the token has seen significant outflows, reportedly around $68.63 million over the past several days. The news of upcoming XRP ETFs which will reportedly go on the market in October thanks to the SEC’s fast-track does not seem to make much of an impact on the price of XRP.

So far, XRP price has remained above the $2.80 threshold. However, it remains to be seen whether that will last.

The fact that XRP failed to hold above $3.00 despite strong ETF-related buzz and inflows earlier in the month highlights how fragile investor confidence remains. Market participants appear to be reducing exposure, adding more weight to the downward spiral.