At the start of the week, XRP was changing hands near $2.90, pulling its market cap down to about $173 billion and once again underperforming against its peers.

The debut of the first U.S. spot XRP exchange-traded fund briefly captured attention, but instead of sparking a lasting rally it gave way to a rush of profit-taking. Trading activity on launch day was strong, topping $37 million, yet the burst of volume only set the stage for heavy selling. Institutions, quick to bank early gains, helped flip momentum from bullish to defensive almost overnight.

Liquidations Add Fuel to the Drop

As the pullback accelerated, leveraged traders were caught on the wrong side of the move. Roughly $79 million worth of XRP positions were liquidated in a single day, the majority of them longs. That wave of forced selling worsened the decline and rattled retail sentiment just as the broader altcoin sector lost around 4% of its total value.

Market watchers now point to the $2.80 area as a line in the sand for bulls. If it fails, XRP could tumble toward the $2.50–$2.60 range. On the upside, reclaiming the $3.10–$3.20 zone would signal renewed strength and could reignite speculation about a return to the all-time high above $3.60.

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Long-Term Speculation vs. Short-Term Reality

Despite the shaky near-term outlook, bold predictions persist. Some commentators argue that XRP could still explode higher if historical cycles repeat, with targets as lofty as $300 by 2026 being floated. But skeptics counter that continued selling, weak market conditions, and stricter ETF regulations will likely keep the token under pressure.

For holders, the message is clear: unless XRP can defend current support and shake off bearish momentum, the frustration of being stuck behind the market’s leaders may continue into the final stretch of the year.

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