The XRP asset price suffered a sharp 6.7 percent decline, trading near the 1.75 dollar mark during today’s volatile market session. Shaurya Malwa reports that this retreat, driven by a Bitcoin-led selloff, resulted in 70 million dollars in losses for traders who were holding long positions in the derivatives market.
This technical breakdown, which occurred without any specific negative news regarding the Ripple project, forced a breach of the previous 1.79 dollar support. According to CD Analytics data, trading volume surged exceptionally during the slide, confirming significant institutional participation in the bearish movement that shook the financial derivatives markets recently.
The impact of forced liquidations on current market structure
The sudden price correction was fueled by the deleveraging of bullish positions, which were trapped once key support levels failed systematically throughout the day. In this way, the zone between 1.79 and 1.82 dollars has now transformed into a tough technical resistance level for buyers to overcome in the immediate short term.
Likewise, derivatives data showed that liquidations were overwhelmingly from long positions, demonstrating how crowded the bullish positioning was before the adjustment. For this reason, the cryptocurrency remains under constant pressure, temporarily stabilizing in a narrow range while investors evaluate the depth of the pullback against Bitcoin’s ongoing volatility.
Nonetheless, the price managed to find a tentative floor near 1.74 dollars, where buyers attempted to stop the capital hemorrhage. Therefore, the current market structure suggests that the asset is in a critical consolidation phase, whose resolution will depend entirely on the bulls’ ability to reclaim higher levels convincingly.
Will the 1.74 dollar support hold against the current selling pressure?
The relevance of this event lies in the high correlation that the token maintains with the rest of the ecosystem, especially during systemic liquidation events. This milestone represents a reminder of the risks of excessive leverage, as the market erased institutional gains in just hours, leaving analysts strictly focused on technical price indicators.
As the rebound volume fades, the chances of a quick recovery seem limited in the absence of positive fundamental catalysts. On the other hand, if the 1.74 dollar level were to break, the risk of a drop toward 1.70 dollars would increase, triggering a new wave of selling by retail traders.
Finally, investors must closely monitor the 1.82 dollar resistance zone, as reclaiming it is vital to neutralizing the negative trend. Although immediate selling pressure seems to have diminished, the future stability of XRP will depend on general sentiment and how large holders manage their portfolios amid global macroeconomic uncertainty.
