XRP Rebounds Sharply After 41% Flash Crash, Reclaims $2.47 Support

Core Insights - XRP experienced a significant intraday collapse of 41%, dropping from $2.77 to $1.64, before rebounding to close above $2.47 as institutional bids returned following panic liquidations [2][3]. Price Action Summary - The steepest drawdown occurred between 19:00–21:00 UTC, with XRP dropping $1.08 on a volume of 817 million, marking a capitulation candle for the week [4]. - An immediate rebound to $2.34 established a new base, with the price climbing steadily to $2.49 by 15:00 UTC [4]. - The final hour saw a narrow trading band of $0.03 ($2.46–$2.49) with a volume of 2.2 million, indicating consolidation rather than exit flows [4]. Technical Analysis - Intraday volume peaked at 817 million, nearly tripling recent daily averages, with volatility reaching 41% [6]. - Institutional accumulation was observed between $2.34–$2.45 as large holders rebuilt exposure during the bounce [6]. - Key resistance remains at $3.05, with upside projections towards $3.65–$4.00 if recovery momentum is sustained [6]. Market Structure - Support is established at $1.64 as the capitulation low, with $2.40–$2.45 forming an accumulation floor [7]. - Resistance at $3.05 serves as a breakout trigger, with a close above signaling structural recovery [7]. - A bullish recovery channel is developing, with momentum indicators turning positive above $2.47 [7].