XRP News Today: XRP Drops 10.34% on July 24 as Upbit's 75M Sell Order Triggers $89.68M Liquidations

XRP experienced a significant price plunge on July 24, 2025, dropping 10.34% in a single day—the worst performance since April 2025. The decline followed heavy selling pressure on South Korea’s Upbit exchange, which executed large-scale sales of 75 million XRP tokens within 24 hours [1]. This surge in sell orders overwhelmed buyer demand, triggering a rapid price collapse. CoinGlass data revealed that long positions in XRP faced liquidations totaling $89.68 million during the same period, as leveraged traders struggled to absorb the downward momentum [2]. The exchange’s actions marked a reversal from earlier in the month, when Upbit had contributed to XRP’s upward movement.

The sell-off exacerbated broader market volatility, with crypto markets recording over $737 million in leveraged liquidations on July 24, according to Mitrade. Ethereum, Solana, and XRP were among the most affected assets, as traders scrambled to offload positions [3]. CoinGecko data highlighted XRP as the fifth-worst-performing token among the top 100 cryptocurrencies for the week, trailing Celestia (TIA), FLOKI (FLOKI), Worldcoin (WLD), and Aptos (APT). At the time of reporting, XRP traded at $3.09 on Bitstamp, down 3% from earlier levels [4].

The sharp decline coincided with broader regulatory uncertainties. South Korean regulators had recently issued guidance restricting domestic asset management firms from expanding holdings in crypto-related stocks, including Coinbase, under the 2017 "Emergency Countermeasures Related to Virtual Currency" [5]. While this policy did not directly target XRP, it signaled heightened scrutiny of crypto exposure in traditional financial products, potentially reducing institutional demand for digital assets. Analysts noted that Upbit’s timing of the sales aligned with this regulatory environment, suggesting a strategic adjustment to comply with evolving guidelines [6].

The U.S. SEC’s ongoing regulatory focus on cryptocurrency markets further amplified risk-off sentiment. Investors remained wary of potential enforcement actions or policy shifts, particularly amid the SEC’s deliberations on cryptocurrency ETF approvals and the Federal Reserve’s monetary policy trajectory [7]. The combined impact of regulatory pressures and exchange-driven liquidity crunches underscored the fragility of crypto markets. For institutional investors, the event highlighted the need for diversified strategies to mitigate risks associated with sudden regulatory or exchange-level interventions.

The sell-off’s ripple effect extended beyond XRP. South Korea’s status as a major crypto hub amplified the market impact of Upbit’s actions, as large-volume transactions on the platform triggered cascading losses. Traders and investors faced substantial losses as liquidity dried up, compounding the challenge of stabilizing positions [8]. The episode also raised questions about the influence of key market players on asset prices, emphasizing the importance of liquidity management in volatile markets.

Sources:

[1] TradingView. "Analyst Reveals The Real Reason XRP Price Crashed." https://www.tradingview.com/news/newsbtc:8a8e0833a094b:0-analyst-reveals-the-real-reason-xrp-price-crashed-yesterday/

[2] The Economic Times. "XRP Price Prediction: Today’s 10% Crash Shakes Investors." https://m.economictimes.com/news/international/us/xrp-price-prediction-todays-10-crash-shakes-investors-is-something-bigger-unfolding-beneath-the-surface-heres-what-ripples-ceo-urgently-warns/articleshow/122882497.cms

[3] Mitrade. "Crypto Markets Dip, Liquidating Over $700 Million from..." https://www.mitrade.com/insights/news/live-news/article-3-982524-20250724

[4] AInvest. "XRP News Today: XRP Falls 10.34% on July 24 Amid $89..." https://www.ainvest.com/news/xrp-news-today-xrp-falls-10-34-july-24-89m-liquidations-market-volatility-2507/

[5] CoinDesk. "South Korean Regulators Order to Stop ETFs from Expanding..." https://www.coindesk.com/

[6] The Block. "Six ETF Issuers Submit Amendments to Cryptocurrency ETF..." https://www.theblock.com/

[7] Bloomberg. "Analysts Highlight Fragility of Crypto Markets Amid Regulatory..." https://www.bloomberg.com/

[8] Bitget. "XRP Price Drops Amid SEC Meeting and Market Volatility." https://www.bitget.com/news/detail/12560604879650