XRP Plunges to $1.53: A 42% Panic in the Crypto Galaxy

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Ripple’s XRP did a cosmic eyebrow-raise, plunging about 42% to a dreary $1.53 before charmingly recovering to $2.3. The sudden nosedive wiped out roughly $700 million in liquidations and left traders across exchanges blinking at screens as if a Vogon poetry reading had interrupted their coffee. 😳🚀🛸

And now the question that keeps the universe awake at night: why did XRP crash so hard, and what triggered the panic? 🤔

Heavy Whale Selling Sends Prices Tumbling

Data suggests that large XRP holders were behind much of the selling pressure. These whales reportedly unloaded between $40 million and $50 million worth of XRP daily, totaling more than $1.5 billion in less than a month. 🐳🌊

This constant wave of selling flooded exchanges and caused a chain reaction of liquidations, as stop-loss orders triggered one after another.

Record-Breaking Liquidations Across Exchanges

In just 24 hours, over $709 million worth of XRP futures were wiped out. Long positions took the hardest hit, accounting for roughly $616 million of that total, while short positions made up another $92 million. 💥📉

Analysts say this was the largest liquidation event in XRP’s recent history, a reminder of how quickly leveraged trades can unravel during sudden sell-offs.

Trump’s New Tariff Adds Fuel to the Fire

The timing of the XRP crash couldn’t have been worse. It happened right after U.S. President Donald Trump announced a 100% tariff on Chinese imports, a surprise move that shocked global investors. 🗺️🔥

As fear spread, the total crypto market lost over $400 billion in value, dropping to about $3.74 trillion. Bitcoin also fell sharply to nearly $105,000 before recovering slightly. 🪐💸

This market-wide panic added even more pressure on XRP, pushing its price down further.

What Next For XRP Price?

Now, all attention is on whether XRP can hold above the $2.30 support level. The Relative Strength Index (RSI) currently sits at 29, showing oversold conditions, hinting at a possible short-term rebound. 📈🤞

If buyers defend the $2.30 zone and push prices back above $2.80, XRP could regain its bullish footing. 🚀

But if support fails, a slide toward $2.00 & further $1.56 remains on the table. 🛤️

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2025-10-11 11:35