XRP News Today: XRP Dogecoin Drop 10% as Solana Falls 7.87% Amid Heavy Liquidations and SEC Delays

Cryptocurrency markets experienced a sharp downturn on [date], with XRP, Dogecoin, and Solana leading the selloff. XRP and Dogecoin both declined by over 10%, while Solana fell approximately 7.87%, dragging the total crypto market capitalization below $3.83 trillion. The losses were driven by heavy liquidations of long positions, particularly in altcoins, as $963.52 million in total liquidations were recorded over the past 24 hours. XRP alone accounted for $112.87 million in liquidations, with $105.84 million from long traders, indicating a significant shift in speculative positioning [1]. Dogecoin saw $55.59 million in liquidations, while Solana’s $57.69 million in losses highlighted ongoing fragility in smaller-cap assets [1].

The broader market environment was further pressured by regulatory uncertainty. The U.S. Securities and Exchange Commission (SEC) unexpectedly paused its earlier approval of Bitwise’s proposal to convert its crypto index fund into an ETF, adding to investor caution [1]. This move underscored lingering regulatory hesitancy toward non-Bitcoin and non-Ether ETFs, even as the Trump administration has signaled broader crypto-friendly policies. Analysts noted that the decision reinforced a fragile sentiment for altcoins, which have historically been more sensitive to regulatory developments [1].

Bitcoin, meanwhile, remained relatively stable, trading between $118,000 and $120,000. While the Bitcoin price did not contribute to the altcoin selloff, its performance was seen as a key factor for future momentum. A potential break above $124,000 could free up capital to flow into smaller tokens, though no immediate catalysts were identified to drive such a move [1].

CoinMarketCap’s altcoin season indicator, a gauge of market sentiment for non-Bitcoin assets, dropped to 37 from 55, reflecting declining optimism across the sector. Analysts emphasized the importance of monitoring whether the current weakness is isolated to specific tokens or indicative of a broader correction. Bitpanda deputy CEO Lukas Enzersdorfer-Konrad highlighted the need to assess whether momentum in XRP and other altcoins could broaden or remain concentrated [1].

Despite the near-term declines, some analysts identified potential for a rebound. Dom, a crypto analyst, outlined a bullish scenario for XRP, projecting a potential rise to $7–$10 if the overall market improves. Dogecoin also showed signs of a potential reversal, with analysts citing a double-bottom pattern on its chart and a breakout from a multi-month downtrend as possible catalysts for a move toward $0.478 [1]. Solana’s medium-term outlook remains positive, though its ability to hold the $180 support level will determine whether the current pullback is a temporary consolidation or a deeper correction [1].

The selloff underscores the vulnerability of altcoins in a market environment where regulatory developments and macroeconomic factors dominate investor behavior. While Bitcoin’s stability provided a floor for the crypto market, the sharp declines in XRP, Dogecoin, and Solana highlight the challenges facing smaller-cap tokens. Analysts will continue to monitor regulatory decisions, Bitcoin’s price action, and broader market sentiment to gauge the sustainability of the current correction.

Source: [1] [title: XRP, Dogecoin Crash 10% as Solana Falls 7%- Why is the market down Today?] [url: https://coinmarketcap.com/community/articles/6882210a02db7b7c87a44149/]