XRP Faces Fresh Selling Pressure as Price Nears $1.70, $70 Million in Liquidations Hit the Market

XRP is under renewed pressure as the token struggles to maintain momentum, now trading close to $1.70 after a fresh round of declines. The cryptocurrency has dropped approximately 2.5% in the past 24 hours, signaling a continuation of its recent downward trend. The swift return of bearish momentum is raising concerns among traders, as the market shows signs of fragility and a lack of strong buyer interest.

Despite occasional attempts at recovery, XRP has been unable to sustain any meaningful upside, with each minor rally being met with renewed selling pressure. This suggests that the market is still in a correction phase, rather than preparing for a strong rebound. The absence of aggressive dip-buying and thin spot demand further indicate that investors remain cautious, waiting for clearer signals before re-entering the market.

$70 Million in Liquidations Hit Bullish Traders

The latest price pullback has triggered over $70 million in XRP futures liquidations, with the majority coming from long positions. In simple terms, many traders were positioned for a rebound, but when the price slipped below key support levels, forced selling kicked in, accelerating the decline.

As XRP dropped under nearby support zones, margin calls intensified the downward move. This type of liquidation cascade often leads to exaggerated price swings, where selling feeds on itself rather than reflecting a sudden change in fundamentals. It also explains why the price has struggled to stabilize quickly after the initial dip.

Here are the main takeaways from the liquidation data:

• Most liquidations came from long positions, which shows traders were still optimistic about a recovery.
• Forced selling made the market more volatile, instead of traders taking profits naturally.
• Leverage is coming down, but it hasn’t been completely cleared from the market yet.

Weak Bitcoin Keeps Risk Appetite Low

XRP’s weakness is part of a broader trend affecting the entire cryptocurrency market. Bitcoin’s slow price movement has made traders more cautious, especially when it comes to altcoins like XRP, which are already under pressure. When Bitcoin isn’t moving up, investors tend to cut back on riskier assets, waiting for clearer signs of strength before committing capital.

At the same time, there’s little evidence of aggressive dip-buying in XRP. Spot demand appears thin, suggesting many investors are waiting for clearer confirmation before stepping back in. Until overall market confidence improves, XRP is likely to remain sensitive to downside moves, with further declines possible if selling pressure persists.

XRP Technical Picture Points Toward $1.60

On the 4-hour chart, XRP’s price action remains strongly bearish. The token continues to form lower highs and lower lows, following a clear downward trendline that has capped recoveries since mid-January. The price has dropped below the 1.618 Fibonacci extension near $1.73, drawing focus to lower support levels.

XRP is now just above $1.64, which aligns with the 2.272 Fibonacci extension. This area might provide a brief pause, but during strong downtrends, such levels often fail to hold as long-term bottoms. If the price falls below $1.64, it could move toward $1.60 to $1.59, where the 2.618 extension and previous liquidity zones are found.

Momentum continues to support a bearish outlook. The Relative Strength Index (RSI) is still below 40 and moving closer to oversold territory, with no sign of bullish divergence. This points to ongoing weakness rather than a signal that the decline is ending.

For sentiment to improve, XRP needs to reclaim $1.75 to $1.78, and then break above $1.86. Until that happens, the technical outlook suggests caution, with $1.60 as the next critical level to watch on the downside.

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