XRP's price has suffered a severe crash, driven by an extraordinary wave of liquidations and a broken technical structure. The cryptocurrency experienced over $72 million in liquidations in the past 24 hours, with long positions bearing the overwhelming brunt of the losses. This selling pressure pushed the price from around $1.81 to as low as $1.71.
The liquidation data reveals a staggering imbalance. Over a critical 12-hour period, long position liquidations reached $57.24 million against just $503,000 in short liquidations, creating a lopsided ratio of 11,348%. This indicates an aggressive buildup of leveraged long bets that collapsed rapidly as XRP broke below key support levels. The 24-hour figures further underscore the one-sided pressure, with $71.22 million in longs liquidated versus less than $1 million in shorts.
Technically, the outlook appears bearish. XRP's price, at the time of reporting, was $1.74743, reflecting a 3.16% decline. The asset is trading near the lower Bollinger Band, signaling continued selling pressure and high volatility. Furthermore, the Relative Strength Index (RSI) has dropped to 33.25, placing XRP in an oversold condition. While this can sometimes precede a rebound, the dominant market structure is broken, with the $1.81 zone now acting as strong resistance.
Analysts describe the event as a "leveraged washout," where overextended bulls were forced to exit their positions, clearing shallow market depth. The rapid, vertical price drop was followed by indecisive trading near $1.77, with no significant buying pressure to suggest a bottom has formed. The market faces the risk of a further flush toward the $1.68 level unless derivatives funding rates normalize and open interest resets without another price collapse.
