XRP Price News: Dropping to $2.2 Despite Positive News – A Dip Worth Buying?

XRP (XRP) has gone down by nearly 6% in the past 24 hours as the sell-off that started on Sunday seems to be accelerating.

Trading volumes during this period have nearly doubled, now accounting for almost 6% of the token’s circulating supply at $8 billion.

The selling pressure on cryptos increased on Sunday as the Asian session opened. Last week’s comments from the head of the Federal Reserve, Jerome Powell, set off a chain reaction that has led to more than $1.5 billion in liquidations in just two days.

This is a data-heavy week, which could result in high volatility for financial assets, especially in the highly news-sensitive crypto market.

On Friday, labor data for October in the United States could appease the market if the unemployment rate and non-farm payrolls come in near analysts’ expectations. Surprises may not be greeted pleasantly though.

Ripple Launches Trading Service for Institutional Clients in the U.S.

Ripple celebrated a key milestone this week as the network’s native stablecoin, Ripple USD (RLUSD), just reached a market cap of $1 billion for the first time in its history.

Ripple USD (RLUSD) Market Cap – Source: CoinMarketCap

The token hit this key level just a year after its launch, and it is already positioned at the 11th place among the most valuable stable assets.

RLUSD is a key piece of the puzzle for Ripple as it allows the network to support fast and cheap cross-border payments through a dollar-pegged instrument that is fully backed by liquid USD reserves.

In addition, Ripple launched a trading platform called Ripple Primer that will facilitate crypto trading for institutional players in the United States. This was made possible through the acquisition of the crypto exchange Hidden Road in April this year.

“The launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets and positions us to provide U.S. institutions with a comprehensive offering to suit their trading strategies and needs,” commented Michael Higgins, International CEO of Ripple Prime.

Negative Momentum Accelerates and XRP Could Hit $2 Soon

XRP has been on a downtrend since July 2025. Back then, the token got the closest it has been to making a new all-time high since January 2018.

Nonetheless, the selling pressure has been quite strong, possibly as buyers were reluctant to push the token higher without some positive catalysts that justified further price increases.

The latest ecosystem growth initiatives are positioning Ripple to reap the benefits of a clearer regulatory environment in the United States. The pieces seem to be falling into place, and there’s a clear roadmap for what the project intends to achieve.

XRP/USD 4H Chart (Binance) – Source: TradingView

XRP just hit a key support area at $2.25 from which it could bounce to $2.50 at least in the near term, meaning an 11% upside potential.

Nonetheless, momentum is still quite negative. The Relative Strength Index (RSI) is heavily depressed, and it is near oversold territory already. Although this raises the odds of a short-term pullback, it also shows that momentum is bearish.

If XRP dips below this support, we could expect a move toward $2 soon. This would be an interesting opportunity to scoop up tokens at a heavily discounted price compared to its recent swing highs, for those who believe that it will make a comeback before year’s end.