XRP fell about 7% to near $1.75 as a bitcoin-led selloff triggered heavy long liquidations, wiping out more than $70 million in bullish futures positions.
The move was driven by broader market weakness rather than XRP-specific news, with leveraged longs forced out once the token slipped below its $1.79 support level.
Derivatives data showed the liquidations were overwhelmingly from long positions, highlighting how crowded bullish positioning amplified the downside as selling accelerated.
The breakdown below $1.79 occurred on unusually high trading volume, flipping the former support zone between $1.79 and $1.82 into near-term resistance and signalling institutional participation.
XRP stabilised late in the session around $1.74–$1.76, a range traders now see as the immediate line in the sand for short-term price structure.
Market participants say a hold above $1.74 could lead to consolidation as liquidation pressure fades, but a recovery would require reclaiming $1.79 and then $1.82.
If support at $1.74 fails, traders warn that downside risk could open toward $1.72–$1.70, with XRP remaining highly sensitive to further moves in bitcoin.
At the time of reporting, XRP price was $1.74.