$30 billion flows into XRP in a day after wiping out 50% of its market cap

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In a dramatic rebound, XRP has seen a sharp influx of capital within 24 hours, adding nearly $30 billion to its market capitalization following one of the steepest single-day declines in its history.

As of press time, XRP’s market cap stood at $143.3 billion, up from $114.8 billion a day earlier, an inflow of $28.5 billion. 

XRP market cap chart. Source: CoinMarketCap

The recovery comes just a day after the cryptocurrency suffered an unprecedented sell-off on October 10, when the broader market faced massive liquidations.

During the flash crash, XRP’s market value plunged 50% in just 30 minutes, dropping from $161 billion at 4:50 PM ET to $80 billion by 5:20 PM ET. The collapse was part of a wider $19 billion liquidation wave across the crypto sector that sent major tokens tumbling.

Crypto market crash 

Notably, the sudden crash stemmed from the broader market sell-off sparked by President Trump’s announcement of 100% tariffs on Chinese goods and new export controls on “critical software,” a move that spooked global markets and pushed investors toward a risk-off stance.

Bitcoin and major altcoins also plunged sharply as panic selling spread, while structural weaknesses within the crypto sector, including high leverage, unstable stablecoins, and complex lending loops centered around the USDe token, intensified the decline.

The positive inflow into XRP and the wider market is part of an ongoing recovery, with some analysts maintaining that the correction is short-term and merely a pause in the broader uptrend. 

They note that if the SEC approves the long-awaited spot XRP exchange-traded fund (ETF), which has been delayed due to the ongoing government shutdown, it could open the door to significant institutional capital inflows.

XRP price analysis

Meanwhile, despite the rebound in market cap, XRP remains under pressure from a price perspective. At press time, the token was trading at $2.39, down over 3% in the past 24 hours and 20% lower over the past week.

XRP seven-day price chart. Source: Finbold

If broader market sentiment turns bullish, analysts believe XRP could retest the $2.50 resistance, a key level that may pave the way for a potential push toward $3.

Featured image via Shutterstock

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