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XRP experienced a significant rebound, surging 8.5% in price from $2.37 to $2.58 and regaining $30 billion in market capitalization following a sharp sell-off triggered by U.S. President Donald Trump's announcement of 100% tariffs on Chinese goods. The recovery was driven by aggressive institutional buying, with trading volumes spiking to 276.8 million in a single session-more than double the daily average of 118 million. Analysts noted that the rebound confirmed a key support level at $2.37 and reinforced bullish momentum, with the price closing at $2.58 on 2.3 million turnover [1].
The initial crash occurred over 30 minutes on October 10, during which XRP's market value plummeted 50% from $161 billion to $80 billion, contributing to a broader $19 billion liquidation across the crypto sector. The sell-off was part of a wider risk-off market reaction to Trump's tariff declaration, which also triggered significant losses in traditional equities. However, renewed institutional inflows and strategic repositioning by traders restored confidence, with analysts anticipating a potential weekly close above $3.12-a level not seen since XRP's inception [2].

Technical analysis highlighted a clean ascending channel with support at $2.37 and resistance near $2.59. Sustained closes above $2.59 could open the path to $2.70–$2.75, while a breakdown below $2.50 risks a retracement to $2.42. Institutional volume remained a key driver of the rebound, with analysts emphasizing the breakout above $2.57 as confirmation of a near-term trend reversal [1].
The recovery aligns with broader macroeconomic uncertainties, including Trump's trade-war rhetoric and Federal Reserve policy developments. Analysts remain cautious about potential volatility but noted that XRP's structural resilience and institutional adoption-bolstered by the SEC's no-action letter allowing qualified crypto custodians-position it for long-term growth [3].
While short-term price pressures persist, with
trading at $2.39 as of press time (a 3% decline in 24 hours), analysts project a retest of the $2.50 resistance level if broader market sentiment improves. A successful breakout could pave the way for a push toward $3, with some experts citing a year-end target of $5 based on ETF speculation and institutional inflows [3].Quickly understand the history and background of various well-known coins

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