XRP Plunges 7% Amid $437M Sell-Off—$1B Crypto Liquidation Carnage Rocks Markets

Crypto markets got steamrolled today as XRP led the charge downward—tumbling 7% after a brutal $437 million sell-off triggered panic across exchanges.

Liquidation bloodbath hits $1B

Margin calls exploded like dominoes as leveraged positions got vaporized in the dumpster fire. Traders scrambled to cover shorts while 'HODL' memes aged like milk left in a Dubai summer.

Classic crypto—where 'institutional adoption' meets casino-grade volatility. Maybe those 'stable' algorithmic coins will save us... said no sane person ever.

News Background

• Market-wide liquidations exceeded $1 billion, amplifying downside pressure across major cryptocurrencies.
• XRP’s selloff coincided with a midday capitulation event, with volume reaching 436.98 million units — one of the largest single-hour prints this quarter.
• Ripple’s CTO reiterated the XRP Ledger’s readiness for global financial infrastructure use, offering fundamental support amid technical weakness.
• Broader crypto market declines aligned with profit-taking in U.S. equities, shifting risk sentiment to the downside.

Price Action Summary

• XRP dropped from $3.34 to $3.10 in the 24 hours from Aug. 14 03:00 to Aug. 15 02:00 (-7.19%).
• Session range spanned $3.34 to $3.05, a $0.29 move representing 8.69% volatility.
• The steepest decline occurred at 12:00, with price falling from $3.22 to $3.09 on heavy volume.
• Following the drop, XRP traded in a narrow $3.05–$3.13 band, signaling reduced sell-side momentum.
• Late-session trading saw price recover from $3.09 to $3.10, breaking back above immediate resistance.

Technical Analysis

• Support confirmed between $3.05–$3.09 on multiple retests during high-volume selling.
• Resistance now sits at $3.13, with secondary resistance at $3.20.
• Declining volume after the midday spike suggests liquidation exhaustion.
• Final 60 minutes saw two notable volume surges — 4.53M and 3.76M — confirming institutional interest at support.
• Recovery above $3.10 in low-liquidity conditions may indicate early-stage re-accumulation.

What Traders Are Watching

• Follow-through buying above $3.13 to confirm short-term reversal.
• Large-holder wallet activity for signs of renewed accumulation.
• Whether $3.05 holds during the next wave of market-wide volatility.
• Funding rate shifts in XRP derivatives markets that could signal leverage re-entry.
• Broader correlation with equity markets as Fed rate cut bets continue to drive risk sentiment.