TLDR
- XRP crashed up to 42% on Friday, dropping from $2.82 to as low as $1.64 before recovering to $2.36
- Futures open interest fell by $150 million while long liquidations hit $21 million compared to just $2 million in shorts
- Trading volumes surged 164% above the 30-day average during the selloff
- Whale wallets have been exiting at a rate of $50 million per day for the past month
- The token now sits at support around $2.30 with resistance at $2.84
XRP experienced its sharpest one-day decline in recent years on Friday. The token crashed as much as 42% before partially recovering.
The selloff began with XRP trading near $2.82. Prices then fell to an intraday low of $1.64 during high-frequency liquidation sweeps. The token later stabilized around $2.36.
Trading volumes jumped 164% above the 30-day average. This level of activity signals forced deleveraging across institutional trading desks.
The crash happened between October 10 at 1:00 AM and October 11 at midnight. During this period, XRP posted a 16% daily loss from opening to closing prices.
$XRP Crashed from $2.70 to $0.77 in 2 mins. Tons of folks were wiped out. pic.twitter.com/Rk335LNdtO
— 𝒰𝓂𝒷𝒾𝓈𝒶𝓂 (@Umbisam) October 10, 2025
Intraday volatility peaked at 43%. The heaviest liquidation period occurred between 3:00 PM and 9:00 PM UTC when hourly volume reached 817.6 million.
Futures Markets See Mass Liquidations
Institutional futures open interest dropped from $9.0 billion to $8.85 billion. Long liquidations totaled $21 million while short liquidations reached only $2 million.
This data shows that leveraged long positions were the primary target of the selloff. The $150 million decrease in open interest reflects the scale of forced position closures.
On-chain data reveals that 320 million XRP transferred to exchange wallets over the past week. This movement confirms whale distribution pressure on the market.
JUST IN: $XRP whales are offloading 🐋
Whale Flow (30DMA): -$50M/day.
Sell pressure persists. pic.twitter.com/Hcnys9vCCV
— Maartunn (@JA_Maartun) October 10, 2025
Whale wallets have been withdrawing an average of $50 million per day for the past month. The 30-day moving average of whale flow has remained deeply negative since July.
This persistent selling began when XRP reached its top above $3.60 earlier this year. Large holders used that rally to take profits.
Price Stabilizes After Flash Crash
The final 60 minutes of trading saw stabilization. Prices moved from $2.31 to $2.38, gaining 2% as algorithms broke through $2.35 on sustained buying.
Late-session buying brought accumulation volumes exceeding 12 million in the final 15 minutes. Long-term holders appear to be adding positions below $2.40.
Support has formed around $2.30 to $2.35. Extended downside risk exists to $2.22 if trading volume decreases.
Resistance sits at $2.84 to $2.90. A close above $2.90 would be needed to regain technical structure. The macro breakout trigger level is at $3.05.
The 75-day symmetrical triangle broke to the downside during the crash. RSI levels are near multi-month lows while volatility bands are expanding.
Technical analysts identify $2.73 as a key support level within a parallel channel pattern. The token has been trading between two parallel trendlines over recent months.
Traders are watching whether the $2.30 support zone will attract sustained whale accumulation. They are also monitoring the rebuild of open interest following the $150 million contraction in derivatives markets.
