XRP News Today: XRP Plunges 15% to $3.05 as Upbit's 75M Token Sell-Off Sparks Market Panic

XRP experienced its most significant single-day decline since April 2025 on July 23, plummeting 15% to $3.05 following a massive 75 million token sell-off by South Korean exchange Upbit. The rapid release of liquidity exacerbated weak buy depth, triggering panic among traders and accelerating downward momentum [1]. The sell-off coincided with $89 million in XRP futures liquidations, intensifying volatility across the broader crypto market [2]. This marked XRP’s second major drop in 2025, following a 10.39% decline in April tied to customs tariff adjustments and a 18.8% plunge in March. CoinGlass data revealed $112.81 million in XRP positions liquidated in the preceding 24 hours, with long positions accounting for 94% of the losses [3].

The selloff was compounded by broader market uncertainties. The U.S. Securities and Exchange Commission’s (SEC) pause in approving Bitwise’s crypto ETF application cast doubt on institutional adoption, contributing to a 6% decline in XRP on July 4 [4]. Over the preceding weeks, XRP had already faced headwinds, including an 8% collapse on July 5 as traders recalibrated expectations amid regulatory delays and macroeconomic risks [5]. Leveraged positions further deepened the decline, with $735 million in liquidations recorded between July 19–20, placing XRP among the most heavily impacted assets [3]. Whale activity also raised concerns, as large wallets accumulated 280 million XRP over 10 days, potentially signaling additional downward pressure if liquidated [1].

Market analysis highlighted structural vulnerabilities in XRP’s distribution. Binance noted 30% of the token’s circulating supply concentrated in the $0.32–$0.62 range, indicating limited support for price stability [6]. Analysts attributed the sell-off to a combination of Upbit’s liquidity shock, global macroeconomic anxieties, and profit-taking after recent gains. While buyers temporarily propped prices above $3, the persistence of red candlesticks suggested ongoing short-term volatility [1]. Binance analysts cautiously observed that the $3 level could attract discounted entry points if bullish momentum materialized, though further declines remained possible without renewed buying interest [7].

The XRP decline underscored the crypto market’s sensitivity to regulatory shifts and speculative dynamics. Regulatory uncertainty, coupled with whale movements and leveraged trading activity, created a volatile environment. XRP’s trajectory now hinges on resolving regulatory hurdles, stabilizing leveraged positions, and overcoming concentrated sell walls. Without a clear reversal in sentiment, the token faces challenges in reclaiming the $3.50 region.

Source:

[1] [XRP News Today: XRP Plummets 15% to $3.05 after Upbit's 75 Million Token Dump](https://www.ainvest.com/news/xrp-news-today-xrp-plummets-15-3-05-upbit-75-million-token-dump-triggers-market-panic-2507/)

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

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

[4] [XRP Sinks 6% as SEC Delays Bitwise Crypto ETF](https://m.economictimes.com/news/international/us/xrp-sinks-6-percent-again-as-sec-delays-bitwise-crypto-etf-is-the-dip-a-red-flag-or-a-golden-buy-signal-heres-the-2025-xrp-price-prediction-you-need-to-see/articleshow/122859722.cms)

[5] [XRP Rally Hits the Brakes as Token Collapses by 8%](https://u.today/its-over-xrp-rally-hits-the-brakes-as-token-collapses-by-8)

[6] [Analysis of the Logic Behind XRP's Surge](https://www.binance.com/en/square/post/27363143980825)

[7] [XRP Threatens Drop to $3: Will Bulls Step In to Buy the Dip?](https://www.binance.com/en/square/post/27343092707441)