XRP’s price plunged 8% in a 24-hour span, shaken by a wave of long liquidations and rising concerns over ETF delays. The sharp moves reflect the market’s increasing sensitivity to leverage, regulation, and profit-taking pressures.
Massive Liquidations Trigger XRP Price Drop
In the trading session from July 24 to July 25, XRP dropped from a high of $3.26 to a low of $2.96, marking a steep 7.85% intraday swing. According to on-chain metrics, over $105 million in long positions were wiped out, contributing to the price collapse.
A liquidation event of this size signals over-leveraged positioning in the derivatives market.
Volume spiked above 175 million, more than double the daily average, as traders rushed to exit or were forcibly closed out of their positions.
Key Support Holds Amid Heavy Selling
Despite the steep decline, XRP found strong support between $3.06 and $3.10, bouncing off this zone several times. The final hour of trading saw prices dip briefly to $3.05 before reclaiming $3.08 — a potential sign of stabilization.
Repeated support tests paired with a modest recovery suggest bears are losing momentum.
The resistance zone between $3.24 and $3.26, however, held firm and rejected upside attempts during mid-session rallies.
ETF Delay Concerns Add to Pressure
While traders blamed technical triggers, macro sentiment also weighed heavily. Fears of delayed XRP ETF approvals rattled confidence, prompting institutional investors to reduce exposure.
Regulatory uncertainty continues to act as a ceiling on XRP’s full breakout potential.
Meanwhile, bullish headlines emerged, including Nature’s Miracle’s $20 million XRP treasury initiative and Brazil-based VERT’s $130 million blockchain project built on the XRP Ledger — but were largely ignored amid the broader selloff.
What’s Next for XRP?
If XRP holds above the $3.06–$3.10 support zone, bulls may regain footing. A break back above $3.26 resistance would open doors to a retest of mid-July highs.
However, continued liquidation pressure and weak ETF progress may keep volatility elevated in the short term.
As trading volumes remain unusually high, price action over the next 48 hours will likely dictate short-term direction, with eyes firmly on regulatory developments and risk sentiment across broader crypto markets.
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.