XRP fell more than 16% over the past 24 hours to around $1.29, making it the weakest performer among major tokens. Bitcoin was down 7% on Thursday, but XRP saw a sharper slide as selling pressure spread through both spot and derivatives markets.
About $46 million in XRP positions were liquidated
Data from Coinglass showed roughly $46 million in XRP liquidations during the past day. Bullish positions made up about $43 million of that total. That points to more than routine spot selling. Leveraged longs were forced out as the token broke through key price levels.
The chart structure matched that move. XRP drifted lower for most of the session, then dropped hard late in the day, a pattern often seen when buyers keep stepping back until a final cluster of stops gets triggered. The market tone is weak. The selling is mechanical as well as directional.
Fundamental headlines failed to change market sentiment
The decline came even as XRP-related developments continued to build. Earlier this week, Flare and Hex Trust announced institutional access for FXRP minting and FLR staking, a framework designed to let institutions use XRP in DeFi without selling their holdings. Even so, the announcement did not lift sentiment, suggesting traders do not yet see it as a meaningful source of near-term XRP demand.
Ripple, the company linked to XRP, also secured e-money licenses in Luxembourg and added Hyperliquid to its institutional prime brokerage platform, Ripple Prime. That gave clients access to on-chain perpetual liquidity. In a broader upswing, those kinds of updates can support interest in a token, but this time they did little to slow the decline.
$1.44 flips into resistance as traders watch $1.00
From a technical perspective, the break below $1.44 is important because that former support area now stands as overhead resistance. Below current prices, the next obvious psychological level is $1.00, largely because recent trading history between those zones is limited.
XRP rallies have often depended more on bursts of positioning and momentum than on gradual adoption narratives. Right now, the market is trading like a leverage unwind, and that pressure has not eased.