XRP News Today: XRP Falls 10.34% on July 24 Amid $89M Liquidations and Market Volatility

XRP experienced a sharp 10.34% decline on July 24, marking its most significant single-day drop since early April. The sell-off was driven by heightened market volatility and intense liquidation pressure, with over $89 million in long positions liquidated within 24 hours, according to CoinGlass [1]. This downturn positioned XRP as one of the worst-performing tokens among the top 100 cryptocurrencies, reflecting broader investor caution amid macroeconomic uncertainties. The decline mirrored Bitcoin’s earlier 9% drop in March, underscoring the interconnectedness of major cryptocurrencies to external economic pressures.

The recent volatility was exacerbated by concentrated trading activity on South Korea’s Upbit exchange, where over 75 million XRP tokens were sold at market within a single day. This liquidity-driven sell-off intensified downward momentum, triggering widespread liquidations and amplifying pressure on leveraged traders. Despite the sharp correction, XRP held above the critical $3 support level, preventing a deeper decline and indicating potential short-term resilience. However, the token’s current trading price of $3.09 on Bitstamp remains under bearish pressure, with consecutive days of losses suggesting further resistance ahead.

Technically, XRP’s trajectory hinges on key support and resistance levels. A sustained break below $3 could trigger additional downside, while stabilization above this threshold might attract renewed buying interest. Analysts emphasize the importance of monitoring macroeconomic indicators and exchange-specific activity, such as Upbit’s role in driving volatility, to gauge short-term prospects. The liquidation data highlights the fragility of leveraged positions in a rapidly shifting market, with traders advised to remain cautious as uncertainties persist.

The sell-off also reflects XRP’s sensitivity to global economic developments, including U.S. tariff announcements and broader risk-asset sentiment. Its performance this year has been marked by volatility, with a prior 18.8% drop in March aligning with Bitcoin’s corrections. These patterns underscore the token’s exposure to systemic market risks and the challenges of maintaining upward momentum in a bearish environment. Investors are urged to adopt a data-driven approach, leveraging technical analysis and real-time market insights to navigate the evolving landscape.

Source: [1] [XRP Faces Significant Decline Amid High Liquidations and Market Volatility, Potential for Further Downside July 24, 2025] [https://en.coinotag.com/xrp-faces-significant-decline-amid-high-liquidations-and-market-volatility-potential-for-further-downside/]