Bitcoin, Ethereum, XRP Showing Signs of Recovery After Sudden Sell-Off

Bitcoin, Ethereum, XRP Showing Signs of Recovery After Sudden Sell-Off

Also on September 23, major cryptocurrencies like Bitcoin, Ethereum, and XRP are beginning to bounce back following a sharp market sell-off. Per Barron’s, Bitcoin ticked up about 0.4%, trading near $113,161, Ethereum rose ~0.3%, and XRP gained roughly 1.7%. Meanwhile, Solana slipped ~0.9%. 

The prior day saw a cascade of leveraged positions unwind after the U.S. Fed cut interest rates by 25 basis points—a move that had sparked speculative activity. Once the cut happened, many traders with borrowed exposure rushed to exit, which intensified the drop and pulled broader crypto market down.

Now, with that wave of selling behind, many analysts are saying the pullback might have actually “cleaned up” the market—removing over-leveraged positions and setting a more stable base. What to watch in the coming days: whether Bitcoin can hold the ~$112,000 support, whether ETH regains strength relative to BTC, and whether XRP can sustain momentum after its modest rebound. If yes, this could mark the start of a consolidation or even another upward move. If key supports break, deeper downside may still be in play.