XRP News Today: XRP Plummets 10.34% as South Korean Liquidations Push Price Near $3 Support

XRP, a leading altcoin, recorded its most significant single-day decline since April 3, 2025, plummeting 10.34% on Wednesday. The sharp drop, mirroring the volatility seen in April when U.S. tariff announcements triggered a market-wide selloff, has reignited concerns about the token’s stability. The price briefly threatened the critical $3 support level before stabilizing at $3.09 on Bitstamp, narrowly avoiding a steeper decline [1]. This marks the second consecutive day of losses for XRP, which has now joined February 2 and July 23 as the worst-performing days of the year so far [2].

The collapse was driven by massive liquidations and heavy trading on South Korean exchanges. CoinGlass data revealed $89.68 million in long-position liquidations over 24 hours, while Upbit—South Korea’s largest crypto exchange—facilitated the sale of 75 million XRP tokens in a single day, amplifying downward pressure [3]. This activity contrasts with the token’s earlier rally in July, which was similarly fueled by Upbit’s trading volume. XRP now ranks fifth-worst in the top 100 cryptocurrencies, trailing only Celestia (TIA), FLOKI (FLOKI), Worldcoin (WLD), and Aptos (APT) [4].

Technical indicators remain bearish. The 20-day moving average has shifted to exert downward pressure, and the token’s inability to reclaim key resistance levels suggests continued vulnerability. Analysts note that a breakdown below $3 could trigger further technical sell-offs, potentially testing the 2024 lows. While the price stabilized temporarily around $3, its proximity to this critical threshold underscores the fragility of the market’s current positioning.

The broader market context adds to the uncertainty. XRP’s performance reflects heightened sensitivity to macroeconomic developments and exchange-driven liquidity shifts. South Korean trading activity has emerged as a pivotal factor, with Upbit’s role highlighting the regional market’s influence on short-term volatility. Despite XRP’s status as a top-10 cryptocurrency by market capitalization, its price action remains disjointed, lacking the resilience observed in previous cycles.

Investor sentiment is cautiously bearish. The token’s 18.8% yearly drop on March 3—its largest annual decline—coincided with Bitcoin’s 9% slide, underscoring the interplay between macroeconomic concerns and crypto markets. The recent turmoil has intensified scrutiny over XRP’s fundamentals, particularly its exposure to regulatory and liquidity risks. With no immediate catalysts to offset the selling pressure, the path to recovery appears uncertain.

The broader crypto market has mirrored this downturn, with Bitcoin also experiencing declines amid macroeconomic uncertainties. The confluence of macroeconomic factors and exchange-driven liquidity dynamics has complicated the outlook for risk assets. Investors are now focused on upcoming macroeconomic data and regulatory developments, which could determine the next phase of market direction. For XRP, the ability to reestablish a bullish trend will depend on stabilizing trading activity and reducing liquidation pressures—a scenario that remains unlikely in the near term.

Source: [1] [U.Today] [https://u.today/xrp-logs-worst-daily-drop-since-april-is-3-in-danger] [2] [U.Today] [https://u.today/xrp-logs-worst-daily-drop-since-april-is-3-in-danger] [3] [U.Today] [https://u.today/xrp-logs-worst-daily-drop-since-april-is-3-in-danger] [4] [U.Today] [https://u.today/xrp-logs-worst-daily-drop-since-april-is-3-in-danger]