Market Shockwave: BNB, WLFI, TON and XRP Prices Plunge - What’s Driving the Crypto Carnage?

Crypto markets reel as major altcoins face brutal sell-off pressure. Four key assets—BNB, WLFI, TON, and XRP—lead the downward charge, leaving traders scrambling for cover.

Technical Breakdown: Where the Blood Flows

Binance's native token BNB takes a significant hit, dropping double-digits as exchange volume shrinks. WLFI's dramatic collapse continues its recent pattern of volatility, while Telegram's TON token struggles to maintain previous momentum. XRP's legal uncertainty resurfaces as a primary drag on performance.

Market Mechanics: The Domino Effect

Leverage liquidations accelerate the slide across derivatives markets. Whales dump positions simultaneously, creating cascading sell pressure that overwhelms buy support. Trading volumes spike but fail to stabilize prices—classic panic behavior that makes traditional finance look almost predictable by comparison.

Broader Context: Not Just Altcoin Problems

The sell-off reflects wider crypto market nerves as Bitcoin dominance fluctuates. Regulatory whispers and macroeconomic pressures combine to create perfect storm conditions. Meanwhile, traditional finance commentators smugly note another 'I told you so' moment—ignoring that their own markets face similar structural risks.

Bottom Line: This isn't a death spiral—it's crypto's typical volatility on full display. History shows these corrections often create prime entry points for disciplined investors.

XRP

Ripple (XRP) faced a sharp sell-off today, dropping nearly 9% intraday from the opening price of $2.97 to a low of $2.70. The retracement marked a breakdown below the confluence of the 0.382 Fibonacci retracement level and the 7-day EMA and bringing the price to retest a key horizontal demand zone between $2.70 and $2.85.

While buyers stepped in to defend this area, this retest is significant as this zone has served as a strong base since July. If this zone fails to hold, the next major level to watch lies at the 0.618 Fibonacci retracement NEAR $2.6. The RSI is currently at 38, suggesting it has not yet entered oversold territory, leaving room for further downside.

BNB

Binance Coin (BNB) price extended its uptrend this week, reaching a new ATH of $1,083 yesterday. However, the rally showed its first signs of cooling today, as the price pulled back to an intraday low of $993, briefly dipping below the 7-day EMA. It has since rebounded and is currently trading back above the moving average at $1,030.

Today’s sell-off marks the first sign of cooling after a near-vertical ascent from the last retest of the rising trendline support. If the 7-day EMA fails to hold, the risk increases of a deeper pullback toward the ascending trendline, which aligns closely with the 0.382 Fib around $896. This trendline has been intact since June and has repeatedly acted as a launchpad for bullish continuation, making it a critical level to watch in the event of further downside.

TON

Toncoin (TON) saw one of the steepest declines in the crypto market today, falling almost 16% from the opening price of $3.064 to an intraday low of $2.575, accompanied by a spike in volume. The sharp drop marked a clean breakdown below the descending channel that had contained TON price action since late July.

The sell-off also pushed TON well below its 7-day EMA, which now sits overhead at $3.07, while the price currently trades around $2.82. This MA may now act as a resistance on any relief bounce as price recovers from the oversold territory, with the RSI currently at 26. Unless TON can quickly reclaim the lower boundary of the broken channel and stabilize within the structure, there’s a risk of further downside toward the $2.70 level, with the former trendline support potentially flipping into resistance.

WLFI

After a steady grind higher over the past week, World Liberty Financial (WLFI) price followed the broader crypto market in a sharp pullback today, retreating by 11% from the opening price of $0.24 to an intraday low of $0.21, effectively erasing most of its recent gains. The decline came shortly after price briefly broke above the 0.786 Fib at $0.23, hinting at a potential breakout that ultimately failed to gain traction. The rejection from above the Fib level now appears to have triggered a wave of profit-taking, with momentum quickly shifting to the downside.

The RSI on daily and 4-hour timeframes reflects this bearish turn as it has dropped below 50, to 45 and 42 respectively. This leaves room for further downside, potentially toward previous support at $0.18, if bulls fail to hold the critical $0.20 level.