What to know:
- XRP drops below key support as liquidation pressure intensifies rapidly
- Massive long liquidations trigger sharp decline across XRP market structure
- Bearish momentum strengthens as XRP struggles to reclaim lost levels
A wave of liquidations has erased leveraged positions on XRP within a single trading day. Price action weakened steadily before slipping below the $1.34 level, drawing attention across the digital asset market. The move followed several failed attempts to hold higher levels, which had already hinted at declining momentum.
According to analyst Xaif Crypto on X, more than $343 million in positions were liquidated within 24 hours. Long traders accounted for roughly $298 million of the total, highlighting a strong imbalance in market positioning. Additionally, close to 100,000 traders were affected, reflecting the scale and speed of the downturn.
Meanwhile, chart data indicates that XRP has remained under pressure for several sessions. The asset continues to trade below key exponential moving averages, which are aligned in a downward direction. This structure often signals sustained bearish momentum, especially when price struggles to reclaim short-term resistance levels.
Also Read: Do Not Ignore These XRP Signals
Liquidation Wave Reshapes Short-Term Market Structure
As XRP approached the $1.35 region, support weakened amid rising selling pressure, and once that level gave way, liquidation triggers accelerated the decline. Forced sell orders entered rapidly, pushing the XRP price toward a low of $1.3360Â within a short period, while volume patterns further confirmed this development as trading activity surged during the drop.
These spikes suggest a combination of panic selling and automated liquidations from leveraged positions, while the lack of a strong rebound indicates that buyers have remained cautious despite the sharp decline.
In addition, repeated rejection near the $1.36 level has shifted this zone into a resistance area. This change in structure often limits recovery attempts, particularly when broader sentiment remains uncertain. As a result, XRP now trades within a narrow and fragile range. The $343 million liquidation event has reshaped XRP’s short-term outlook, reinforcing bearish conditions while clearing excessive leverage from the market.
Also Read: Crypto Market Sees Broad Pullback as Bitcoin, Ethereum, and XRP Decline
