XRP Tumbles 16%, Underperforming Bitcoin, Ether and Other Major Tokens

XRP plunged over 16% in the past 24 hours to around $1.29, making it the weakest performer among major tokens as bitcoin dropped 7% on Thursday.

The sharp move was fueled in part by forced liquidations in derivatives markets. Coinglass data shows roughly $46 million in XRP positions were liquidated over the past day, with about $43 million coming from leveraged bullish bets. This indicates that the sell-off was not only spot holders exiting but also leveraged traders being wiped out as key support levels failed.

Price action reflected a slow decline for much of the session, followed by a sharp late drop — a pattern common in markets where buyers gradually retreat until a final wave of stops triggers accelerated selling.

XRP’s drop came despite favorable fundamental developments. Flare and Hex Trust recently launched institutional access for FXRP minting and FLR staking, allowing institutions to participate in DeFi without selling XRP. Yet the announcement failed to boost sentiment, suggesting traders see limited immediate demand or do not expect significant flows soon.

Ripple has also added on-chain liquidity through Hyperliquid to its institutional prime brokerage platform, Ripple Prime, and secured e-money licenses in Luxembourg. While such steps typically support token appeal during uptrends, they were insufficient to counteract the current technical and leveraged pressures.

From a technical standpoint, the break below $1.44 has turned a previous support zone into resistance. The next clear psychological target is $1.00, as there is little recent trading activity between the current level and that mark.

In the short term, XRP appears to be trading more like a leverage unwind than a fundamentals-driven rally — and neither factor shows signs of easing yet.