Market Turbulence Follows Tariff Announcement
The analyst’s remarks came after a turbulent trading session that saw several major cryptocurrencies plunge in value before making rapid recoveries. The sharp downturn was triggered by U.S. President Donald Trump’s announcement of a 100% tariff on Chinese imports, a move that reignited fears of a trade conflict between the two largest global economies.
If we close over $3.1150 by Sunday, it'll be the most bullish $XRP weekly candle in history.
— Patrick L Riley (@Acquired_Savant) October 10, 2025
The announcement led to significant sell-offs across traditional and digital financial markets. Within hours, the total global cryptocurrency market capitalization dropped to about $3.7 trillion, while the U.S. stock market reportedly lost $1.65 trillion in value.
Data from CoinGlass showed that $19 billion in leveraged positions were liquidated during the crash, marking one of the largest single‑day liquidation events in crypto history.
XRP Suffers 56% Intraday Drop Before Recovery
Amid the turmoil, XRP recorded one of its steepest intraday declines in recent months. On October 10, the token fell from a daily high of $2.84 to a low of $1.25 on Binance, representing a 56% drop within 24 hours.
However, the asset quickly regained a large portion of its losses, rebounding to around $2.47 by press time. Despite the sharp volatility, XRP’s ability to recover nearly 100% from its daily low has been interpreted by some market observers as a sign of underlying strength.
Assessing the Possibility of a Historic Weekly Close
According to Riley’s analysis, if XRP closes this week at $3.115, it would mark the most bullish weekly candle in its trading history. The potential milestone is based on the strong recovery from this week’s low, which represents a 148% rebound from $1.25 to $3.11.
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— TimesTabloid (@TimesTabloid1) June 15, 2025
For comparison, XRP’s largest weekly gain occurred in December 2017, when the token surged 215%, rising from $0.23 to $0.71. While the current setup may not exceed that performance in terms of total percentage growth, the analyst emphasized that the recovery from extreme lows makes this week particularly significant.
XRP began the current week trading at $2.97, meaning a close at $3.11 would represent a more modest 4.86% weekly increase. Nonetheless, the rapid rebound from its intraweek low has strengthened optimism among traders that XRP could be preparing for a more sustained uptrend.
XRP Sets New Quarterly Record
Beyond its weekly performance, XRP also achieved a historic quarterly close at the end of Q3 2025, finishing the period at $2.846, a 27.16% increase from its Q2 close of $2.23. This figure marks the highest quarterly close ever recorded for XRP.
In addition, September 2025 now ranks as the third‑highest monthly close in the asset’s history, behind January 2025 ($3.03) and July 2025 ($3.02).
With Q4 2025 now underway, analysts remain optimistic about XRP’s performance prospects. Historically, the token has recorded its strongest gains during the fourth quarter, with average growth of around 140%. Past examples include a 240% surge in Q4 2024 and a 1,064% increase in Q4 2017, both of which contributed to major bullish cycles in XRP’s history.
While the broader crypto market remains volatile, XRP’s resilience amid recent turmoil has strengthened investor optimism. Patrick L. Riley’s analysis underscores the potential for a historic weekly candle if the asset maintains its momentum through the weekend.