XRP News Today: XRP plummets 10.29% to $3.11 as Upbit releases 75M XRP, Bitcoin regains traction

XRP’s price plummeted 10.29% within 24 hours, trading at $3.11 as of publication, following a sharp reversal from its 42% monthly gains driven by altcoin optimism and a $3.65 resistance retest on July 18. The token briefly dipped below $3, reaching $2.99, before stabilizing, signaling heightened market fragility. Over $105 million in long positions were liquidated during the selloff, exacerbated by Upbit’s release of 75 million XRP into circulation, which flooded the market with supply. Concurrently, Bitcoin’s resurgence—marked by a 2.3% dip compared to XRP’s double-digit losses—shifted speculative capital away from altcoins, intensifying downward pressure [1].

The downturn coincided with a broader cryptocurrency correction. Ethereum’s validator exit crisis triggered $2.34 billion in unstaking ETH and 11-day processing delays, sparking cascading liquidations across leveraged positions. Institutional investors are recalibrating portfolios amid macroeconomic uncertainty and risk-off sentiment, favoring Bitcoin as a relative safe haven. Elevated trading volumes during the XRP selloff suggest coordinated institutional unwinding rather than retail panic, aligning with analysts’ observations of systemic market rebalancing [3].

Technical indicators worsened the outlook. A death cross emerged on the hourly chart, with the 50-day EMA crossing below the 100-day EMA—a bearish signal. XRP’s breakdown below $3.00, a key psychological level, was labeled a “significant technical failure,” potentially targeting $2.60 support based on historical resistance and moving averages [3]. Regulatory uncertainty further compounded the crisis. The U.S. Securities and Exchange Commission’s abrupt reversal on approving the Bitwise 10 Crypto Index Fund—initially greenlit by the Division of Trading and Markets—shook investor confidence. The fund, which would have included XRP, had been seen as a potential catalyst for institutional adoption [1].

Market capitalization for XRP contracted from $205 billion to $184 billion, briefly hitting $177 billion during the selloff. While bulls noted a temporary rebound above $3, technical caution and regulatory ambiguity cloud short-term prospects. Analysts caution that the decline reflects cyclical factors rather than structural issues. Standard Chartered forecasts XRP could reach $5.50 by year-end 2025, suggesting resilience amid volatility [3].

The interplay of Ethereum’s staking challenges, macroeconomic pressures, and institutional risk management underscores a complex market environment. XRP’s near-term trajectory remains contingent on resolving validator exit queues and stabilizing broader crypto sentiment. Long-term optimism hinges on structural improvements in altcoin ecosystems and regulatory clarity, though immediate hurdles persist in the form of liquidity constraints and speculative profit-taking [3].

Source: [1] [XRP price just crashed 10%; Here’s why] https://finbold.com/xrp-price-just-crashed-10-heres-why/

[2] [XRP Dips 10% Amid Crypto Sell-Off Analysts See Healthy...] https://www.ainvest.com/news/xrp-news-today-xrp-dips-10-crypto-sell-analysts-healthy-pullback-10-15-target-2507/

[3] [Why Is Crypto Going Down? XRP, Dogecoin, Ethereum...] [URL: (omitted for brevity)]