XRP Plunges in Worst Drop Since April, Market Jitters Return

XRP experienced a sharp downturn this week, marking one of its most significant single-day declines in recent months. This latest price drop has caught the attention of investors and analysts alike, signaling renewed volatility in the digital asset’s market behavior.

On Wednesday, XRP suffered a dramatic 10.34% decline, the steepest daily loss since April 3, when it slid by 10.39%. That previous drop was triggered by concerns over new U.S. tariffs impacting risk assets, including major cryptocurrencies. The timing of this current fall has raised questions among market watchers about the sustainability of XRP’s bullish momentum seen earlier this month.

The historical context further underscores the severity of the situation. XRP’s most substantial daily loss of the year occurred back on March 3, with an 18.8% plunge. During that correction, Bitcoin similarly fell 9%, suggesting macroeconomic pressure was impacting the entire cryptocurrency sector. Unfortunately, XRP may now be seeing a repeat scenario where similar externalities resurface to affect its market performance once more.

July 23’s losses now tie with those on February 2, marking two of the worst trading days for XRP in 2025 to date. Such correlations reveal a recurring trend of investor unease spurred by either macroeconomic headlines or concentrated selling activity.

According to current data gathered from CoinGecko, XRP ranks as the fifth worst-performing cryptocurrency among the top 100 digital assets. It trails behind Celestia (TIA), FLOKI (FLOKI), Worldcoin (WLD), and Aptos (APT) in performance, highlighting an unsettling slide into the lower echelon of market sentiment.

From a trading standpoint, the recent decline caused a ripple effect across leveraged positions, resulting in the liquidation of approximately $89.68 million in XRP long contracts within a single 24-hour span, as reported by CoinGlass. This widespread unwinding has further accelerated XRP’s bearish pressure and triggered a rapid sell-off in derivatives markets.

A key element in this downturn appears to be mass sell-side activity emerging from the South Korean crypto exchange Upbit. Earlier in July, Upbit played a significant role in XRP’s rally by driving a surge in trade volume. However, new figures indicate that over 75 million XRP were offloaded on the platform in just one day, contributing heavily to Wednesday’s price crash. According to the latest data, this sudden market action from Upbit significantly accelerated the bearish momentum.

Despite the intense pressure, XRP narrowly maintained support near the crucial $3 threshold, briefly rebounding with buying interest as prices flirted with slipping below this psychological level. Nevertheless, XRP continues on a downward trajectory, already recording a second straight day in negative territory.

At the time of the latest figures, XRP was trading at approximately $3.09 on Bitstamp, reflecting an additional 3% decline. Market observers remain cautious, noting that without a strong volume-driven upward recovery, the asset’s near-term outlook remains uncertain.

Related: XRP Price: $12M Max Pain for Bears

As XRP navigates this turbulent stretch, traders will be closely watching both investor behavior in Asia and broader macroeconomic developments. Whether the cryptocurrency can reclaim its footing will likely depend on a combination of reduced selling pressure and renewed bullish momentum in the broader altcoin market.