At the time of writing, $XRP was down 3.09% in the last 24 hours to $1.27, extending its drop since Thursday's sharp decline into a third consecutive day. This continuing drop caught traders who expected a price rebound unawares, leading to forced liquidations.
Renewed pressure across global markets weighed on cryptocurrencies, erasing gains from earlier in the week. $667.71 million was liquidated in the last 24 hours across the crypto market, with long positions mostly affected ($528.30 million).
What to watch
Santiment recently reported address growth for the $XRP Ledger, reaching a record 8.24 million non-empty wallets. This extends a steady climb that has continued through months of price volatility.
Holder growth is still moving higher, with network growth reaching 4,772 new wallets in one day, the fifth-largest spike since March. Fresh participation is accelerating again, which strengthens the bullish case if the price increase continues, confirming the growth in users.
$1.40 is the first level to watch. A sustained move above it while network growth stays near or above 4,000 daily wallets would make a quick return to $1.50 more than plausible. If $XRP loses $1.30 while new-wallet creation falls back below roughly 3,000, the adoption signal would be less convincing in the short term.
$XRP's MVRV sits around 0.92, placing traders in net losses and creating a historically more favorable, lower-risk opportunity zone than when holders are sitting on large profits.
In positive news, Arf is bringing settlement liquidity to the $XRP Ledger. The Swiss-regulated platform is partnering with Ripple to bring RLUSD-powered settlement liquidity to licensed cross-border payment companies on the $XRP Ledger (XRPL).
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