- XRP slips to fifth as heavy selling pressure drives decline.
- Ripple’s $610M transfer sparks market fears, fueling XRP drop.
- Long traders face $23M losses amid bearish technical breakdown.
XRP has slipped to the fifth position among the top cryptocurrencies after facing renewed selling pressure and a sharp price decline. According to CoinMarketCap, XRP is trading at around $2.87, down by 3.32% in the past 24 hours.
Its market capitalization has fallen to $171.89 billion, while daily trading volume increased by more than 10% to $7.18 billion, indicating intense market activity despite the downturn.
The decline began after XRP failed to hold above the $2.96 level, triggering a wave of selling that pushed the price to around $2.85 before a minor recovery. Although trading volume spiked, the rise was primarily driven by sell orders rather than fresh accumulation.
This shows that traders are exiting positions as sentiment turns cautious across the broader crypto market.
Adding to the pressure, Whale Alert reported that Ripple transferred 200 million XRP worth approximately $610 million to an unknown wallet. The massive transfer raised concerns about potential market impact and increased selling momentum.
The transaction came just as liquidation levels surged, suggesting that large movements of tokens may have contributed to short-term market panic.
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Liquidations and Technical Weakness Deepen the Decline
Data from Coinglass shows that long traders have suffered the most during the selloff. In the last 24 hours, total XRP liquidations reached $25.45 million, with long positions accounting for $23.23 million and short positions only $2.22 million.
Similar liquidation trends were seen in shorter time frames, showing consistent bearish dominance as buyers struggled to maintain momentum.
Source: Coinglass
According to analyst Ali Martinez (@ali_charts), XRP is approaching a critical support zone near $2.72 within a descending triangle pattern. This formation, typically associated with bearish continuation, highlights the possibility of further downside if the price fails to rebound.
The consistent rejections below $3.00 suggest that sellers continue to dictate market direction, while long traders remain under pressure. Despite a strong holder base of nearly 478,000 wallets and a circulating supply close to 100 billion XRP, the token’s short-term outlook remains weak.
The mix of heavy long liquidations, large-scale transfers, and technical breakdowns has contributed to XRP’s decline and its drop to fifth place in global crypto rankings.
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