coindesk.com
$XRP sold off sharply as broader crypto weakness triggered a wave of long liquidations, forcing price below a key support level before buyers tentatively stepped in near $1.74.
News Background
- $XRP fell alongside a broader crypto selloff, with bitcoin-led weakness pressuring high-beta tokens.
- The move was driven by positioning rather than token-specific news, as leveraged longs were forced out once key support levels failed.
- Derivatives data showed more than $70 million in $XRP futures liquidations, overwhelmingly from long positions, indicative of how crowded positioning amplified the downside once selling accelerated.
Price Action Summary
- $XRP dropped about 6.7%, falling from $1.88 to $1.75
- Support near $1.79 failed during the selloff
- Volume surged sharply during the breakdown, signaling forced selling
- Price stabilized in a narrow $1.74–$1.76 range late in the session
Technical Analysis
- $XRP broke decisively below $1.79, triggering a liquidation-driven cascade that pushed price to a session low near $1.74. The breakdown occurred on exceptional volume, confirming institutional participation rather than a low-liquidity slide.
- A modest rebound followed, but recovery attempts stalled below $1.76, and volume faded on the bounce — a sign stabilization, not reversal.
- Former support between $1.79 and $1.82 has now flipped into resistance, capping upside unless reclaimed with conviction.
What traders say is next?
- Traders see $1.74–$1.75 as the immediate line in the sand.
- If $1.74 holds, $XRP may continue consolidating as liquidation pressure eases — but bulls need a reclaim of $1.79, and ultimately $1.82, to shift structure back toward neutral.
- If $1.74 breaks, downside risk opens toward $1.72 and $1.70, with momentum likely to build as remaining support gives way.
- For now, $XRP remains liquidation-sensitive and tightly correlated to bitcoin, with technical levels — not headlines — dictating direction.