XRP Slides 16% to Lead Losses Across Bitcoin, Ether and Top Cryptocurrencies

XRP tumbled more than 16% in the past 24 hours to roughly $1.29, making it the worst-performing major token as bitcoin slid 7% on Thursday.

The decline was intensified by forced selling in derivatives markets. Coinglass data shows about $46 million in XRP liquidations over the past day, with nearly $43 million stemming from bullish leveraged positions. The move was therefore driven not only by spot holders but also by traders losing margin positions as the token broke key technical levels.

Price action throughout the session displayed a slow bleed, followed by a sharp late drop — a pattern typical of markets where buyers step back incrementally until a cascade of stops accelerates selling.

XRP’s downturn occurred despite positive fundamental developments. Earlier this week, Flare and Hex Trust rolled out institutional access for FXRP minting and FLR staking, enabling institutions to participate in DeFi without selling XRP. However, the news failed to lift sentiment, suggesting that traders either doubt near-term institutional demand or do not expect significant flows soon.

Ripple also secured e-money licenses in Luxembourg and added Hyperliquid to its institutional prime brokerage platform, Ripple Prime, giving clients on-chain perpetual liquidity. While such developments usually support token appeal during bull runs, they were insufficient to offset the current technical and leveraged selling pressure.

From a technical perspective, the break below $1.44 has turned a former support zone into overhead resistance. Below current levels, the next notable psychological target is $1.00, as little recent trading activity exists between the two levels.

In the near term, XRP’s price action is being driven more by a leverage unwind than fundamentals — and neither factor appears fully resolved.