XRP experienced a sharp decline early on Aug. 15, dropping from $3.34 to $3.10 amid a sudden sell spike that liquidated positions worth $437 million on the XRP Ledger. The rapid price movement contributed to more than $1 billion in total market liquidations across multiple cryptocurrencies within a 24-hour period.
Market-wide liquidations exceeded the threshold as leveraged long positions were unwound at scale. XRP’s decline of 7.19% represented one of the largest single-day drops for the token in over a week. The sell-off coincided with midday capitulation, during which trading volumes spiked above 436 million units, marking record intraday turnover.
Critical support levels near $3.05 were tested repeatedly, prompting algorithmic traders to execute stop-loss orders that further amplified downward momentum. The ensuing panicked selling spread to other major digital assets, though XRP’s relative volatility outpaced most peers.
Late in the session, accumulation by large-wallet holders emerged, driving XRP back above $3.10. Data indicates two significant buy orders executed within minutes, signaling confidence in a technical rebound at institutional support zones.
Technical analysis highlights support between $3.05 and $3.09 established through multiple retests. Resistance remains at $3.13, with a secondary barrier at $3.20. The recovery attempt above immediate resistance suggests that downside pressure may be easing and that liquidity providers view the current range as a value zone.
Analysts point to broader market correlation with U.S. equity declines and shifting risk sentiment as contributory factors. Profit-taking in traditional markets amid Fed rate cut uncertainty has historically preceded crypto downturns, with XRP particularly sensitive to liquidity conditions.
Despite heightened volatility, XRP’s on-chain fundamentals remain intact. Transaction activity and active wallet counts have shown stability, and the network’s total value locked remained above quarterly averages, underscoring continued usage.
Going forward, traders will monitor funding rates in XRP margin markets for signs of leverage reentry, while large-holder wallet movements will inform accumulation dynamics. Sustained recovery above $3.13 could confirm a short-term reversal, whereas a retest below $3.05 may trigger additional liquidations.
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