XRP experienced a sharp decline, falling roughly 7% to trade near $1.75 as a wider crypto market selloff intensified selling pressure. The move was driven primarily by a wave of forced liquidations rather than any XRP- or Ripple-specific developments, reflecting heightened sensitivity to broader market conditions led by Bitcoin’s downturn.
Derivatives data shows more than $70 million in XRP futures positions were liquidated during the move, with the majority coming from leveraged long traders. Once XRP broke below the closely watched $1.79 support level, selling accelerated rapidly, suggesting that bullish positioning had become crowded.
Volume Spike Signals Institutional Activity
The breakdown below $1.79 occurred on unusually high trading volume, indicating participation from larger players rather than thin, low-liquidity trading. This surge in volume flipped the former $1.79–$1.82 support zone into a near-term resistance area, making any recovery attempt more challenging.
After hitting an intraday low near $1.74, XRP stabilized and traded within a narrow range between $1.74 and $1.76. However, rebound attempts showed declining volume, pointing to consolidation rather than a confirmed trend reversal.
Key XRP Levels Traders Are Watching
Market participants now view $1.74–$1.75 as critical short-term support. A sustained hold above this zone could allow XRP to base and move sideways as liquidation pressure fades. Conversely, a decisive break below $1.74 may open downside targets near $1.72 and $1.70.
For now, XRP remains tightly correlated with Bitcoin, with technical levels and leverage dynamics continuing to dictate short-term price action.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.