XRP Price Crashes 8% as Institutional Selling Breaks Key $2.46 Support

XRP faced a sharp selloff on Thursday, plunging nearly 8% as heavy institutional selling pressure intensified, driving the token below the critical $2.46 support level. The breakdown ended a month-long consolidation phase, signaling renewed bearish momentum across the market.

The cryptocurrency fell from around $2.65 to $2.48 during the session, losing approximately 6.4% in 24 hours. Trading volume surged to about 392.6 million XRP — nearly 400% higher than its daily average — as multiple support levels collapsed. The decisive breach of $2.46 confirmed a bearish structure, with the final wave of selling occurring on reduced volume, suggesting that major holders may have completed their exits.

The decline aligned with broader market weakness after the Federal Reserve’s hawkish tone dampened risk appetite, even as U.S.–China trade sentiment improved. Technical indicators reinforced the bearish view, with both the Relative Strength Index (RSI) and MACD flashing sell signals. The breakdown of $2.46 has turned the zone into fresh resistance, while downside targets now lie between $2.30 and $2.40.

Market analysts caution traders to stay vigilant. Unless XRP reclaims and holds above the $2.50 level, bearish momentum could extend toward lower price ranges. The steep selloff, coupled with declining recovery volume, points to distribution rather than accumulation — a key sign of weakening investor confidence.

Traders are advised to monitor on-chain whale activity and futures open interest, which may reveal further structural risks. Although potential macro catalysts like regulatory updates or trade optimism could spark short-term rebounds, the prevailing technical setup suggests continued weakness until XRP establishes a firm support base.