XRP, the Ripple-linked cryptocurrency, came under sharp selling pressure over the past 24 hours, plunging roughly 7% and triggering heavy losses for bullish traders. The sudden downturn wiped out an estimated $70 million in XRP long positions, underscoring how quickly sentiment can reverse in an already fragile crypto market.
At press time, XRP was trading in the $1.74 range, hovering just below a key psychological and technical floor. The move marked one of the token’s steepest single-day declines in recent weeks and pushed XRP toward multi-month lows, erasing gains built earlier in the quarter. Both the 10-day EMA (1.87654) and the 10-day SMA (1.88059) indicated sell signals, reinforcing XRP’s near-term bearish bias.”
Liquidations Accelerate as Bulls Lose Control
The sell-off was driven largely by a cascade of liquidations, as leveraged bullish bets were forced out when prices slipped below critical support. According to market estimates, XRP long liquidations totaled close to $70 million over the 24-hour window, making it one of the hardest-hit major altcoins during the downturn.
Market-wide, total crypto liquidations were estimated between $1.1 billion and $1.7 billion, highlighting the breadth of the risk-off move. As prices fell, forced selling intensified, amplifying the downward momentum and leaving bulls scrambling to defend remaining positions.
Support Level at $1.80 Under Pressure
Technically, the loss of the $1.80 support level has become a focal point for traders. XRP had previously found a firm footing above $2.00, but that level gave way earlier this month. The break below $1.80 now raises concerns that the token could slide further if buyers fail to step in decisively.
Analysts note that the $1.80 zone had acted as a consolidation base for several weeks, making its failure particularly damaging for bullish sentiment. A sustained move below this level could open the door to deeper retracements, while a quick reclaim may help stabilize prices in the near term.
XRP’s decline did not occur in isolation. Bitcoin (BTC), the market’s primary trend benchmark, also traded lower amid rising uncertainty, while Ethereum (ETH) followed suit, reinforcing a broader risk-off tone across digital assets. Bitcoin dropped to $82,668, while Ether slipped to $2,735.02, adding pressure across the broader crypto market.
When Bitcoin weakens, altcoins like XRP often experience outsized moves due to thinner liquidity and higher leverage. The synchronized drop across BTC and ETH added pressure on XRP, accelerating the liquidation-driven sell-off.
Fed Uncertainty and Geopolitical Risks as Catalysts
Macro factors played a significant role in the downturn. Ongoing geopolitical risks, particularly escalating United States and Iran tensions, have pushed investors toward safer assets. At the same time, uncertainty surrounding the next Federal Reserve (Fed) chairman and its future policy direction has dampened risk appetite across global markets. As of today, Kevin Warsh has emerged as the clear front-runner to succeed Jerome Powell as Federal Reserve Chair.
Crypto assets, which tend to behave like high-beta risk instruments during periods of uncertainty, were especially vulnerable. The combination of Fed-related anxiety and geopolitical headlines proved to be a potent catalyst for volatility.
For now, traders are watching whether XRP can reclaim $1.80 and stabilize. Until volatility eases and liquidation pressure subsides, the path of least resistance appears uncertain, with bulls nursing heavy losses and the market bracing for further swings.
