Last weekend’s bloody market sentiment switched it up on Monday, but the drastic downswings had left its mark on all major-cap coins. Donald Trump’s spontaneous extra 100% tariff on Chinese goods has set off a domino effect across both crypto & stock markets. Bitcoin (BTC) tumbled to $111K, while major-cap alts like Ethereum (ETH) & Ripple (XRP) saw 8% downturns.
With $19 billion wiped out in a blitz moment, this comes naturally with the sky-high rates of leveraged plays being made. However, the sharp market drop last weekend could be ascribed to factors beyond geopolitical tensions. On Saturday, Binance’s full ecosystem went out, scaring away investors as the order books went hollow and the liquidations poured in like a tsunami.
XRP Bounces Back, But Legal Hurdles Still In Place
Surely, this didn’t spare Ripple (XRP), as the veteran altcoin bumped its head into the $2.33 double bottom simultaneously on Saturday and Sunday, but managed to recoup the $2.60 resistance levels this Monday, according to CoinGecko. If crypto whale support restores here, XRP’s bulls could push for a $3 price reclaim, but a lot will depend on this week’s political developments.
Most importantly, the XRP holder community is awaiting numerous decisions by the he U.S. Securities and Exchange Commission (SEC) in terms of the Ripple-based exchange traded fund (ETF) launch. Right now, the earliest Ripple ETF pitch decision is set to come for Bitwise on October 22, 2025. However, that remains iffy due to the recent U.S. government shutdown.
Even though the asset manager holds a hefty $5 billion in assets under management (AUM), the date will likely be pushed back to early 2026. The same applies for Canary Capital’s ETF, 21Shares & WisdomTree’s Ripple ETF submissions, as the SEC’s Crypto Task Force is not even returning calls or answering media inquiries due to the short-handed staff.
Discover DailyCoin’s hottest crypto currency news:
Crypto Mining Made Easy: 3 Gamified Apps You Can’t Miss
Ethena Labs Partners with UR Global, Brings USDe to Digital Banking
People Also Ask:
Trump’s 100% tariff threat on Chinese imports on October 10, 2025, sparks panic selling, wiping out $19 billion in leveraged positions.
XRP drops approximately 15%. Sliding from $2.90 to $2.47 amid the market chaos, but quickly recovering as institutional buying kicks in.
Institutional accumulation between $2.34-$2.45 & a 817 million volume recovery rebuild market confidence post-crash.
XRP faces resistance at $3.05, with potential upside to $3.65-$4.00 if bullish momentum returns for longer.
Reduced volatility and growing adoption of the XRP Ledger could sustain upward pressure, though regulatory shifts remain a factor.
DailyCoin’s Vibe Check: Which way are you leaning towards after reading this article?