XRP sold off sharply as broader crypto weakness triggered a wave of long liquidations, forcing the price to fall below a key support level before buyers tentatively stepped in near $1.74.
News background
- XRP fell alongside a broader cryptocurrency sell-off, with bitcoin-led weakness putting pressure on high-beta tokens.
- The move was driven by positioning rather than token-specific news, as leveraged long positions were forced to exit once key support levels failed.
- Derivatives data showed more than $70 million in XRP futures liquidations, overwhelmingly long positions, suggesting how crowded positioning amplified the downside once selling accelerated.
Price Action Summary
- XRP fell by approximately 6.7%, going from $1.88 to $1.75
- Support near $1.79 failed during sell-off
- Volume increased sharply during the crisis, indicating a forced sale.
- The price stabilized in a narrow range of $1.74 to $1.76 at the end of the session.
Technical analysis
- XRP decisively broke below $1.79, triggering a sell-off-driven cascade that pushed the price to a session low near $1.74.
- The crash occurred in exceptional volume, confirming institutional involvement rather than a low liquidity crash.
- A modest rally followed, but recovery attempts stalled below $1.76 and volume faded with the bounce – a sign of stabilization, not reversal.
- Former support between $1.79 and $1.82 has now turned into resistance, limiting upside unless it rebounds with conviction.
What do traders say will be next?
- Traders see $1.74 to $1.75 as the immediate line in the sand.
- If $1.74 holds,
- If the $1.74 level is broken, a downside risk towards $1.72 and $1.70 opens, and momentum is likely to build as the remaining support gives way.
- For now, XRP remains sell-off sensitive and closely correlated with bitcoin, and technical levels, not headlines, dictate the direction.
