The Cryptomarkt has a hard hit on Monday and lost 4% in value and billions in market capitalization. XRP holders were confronted with more pain when the token slid under $ 3 and dropped more than 4% in just 24 hours. Once the third largest crypto, XRP has now fallen to fourth place with a market capitalization of $ 168.32 billion.
The fall came when Bitcoin slid under $ 115,000 and the entire Altcoin market pulled it down.
Make a profit after the ETF launch
Only a few days ago, the market celebrated the launch of the first US-raised XRP ETF, which recorded an impressive day-to-one trade volume above $ 37 million. Although this debut was historical, it also caused a classic answer “Sell the News”.
Many institutional players, who had built strong positions for the launch, chose to increase the win instead of holding on for further profit. This wave of sales immediately explained the price of XRP.
Liquidations contribute to the decline
The sale was further aggravated by large -scale liquidations. Data shows that XRP traders are almost confronted $ 22 million in liquidations In the last day, with 99% from long positions.
The liquidation squeezed down momentum, which overwhelmed many retail investors.
Regulatory shadows and market mood
Another piece that added weight to the decline of XRP was the updated ETF guidelines of the SEC, which clarified future paths for crypto funds, but also introduced a stricter compliance rules for Altcoins. This news shook trust, which led to further caution in the market.
Meanwhile the wider sentiment index Worn after a neutral 47The reflection of uncertainty among traders.
What is the next step for XRP?
From now on, XRP trades around $ 2.80 and is struggling to stay above crucial support levels. In the meantime, technical patterns suggest that if the sales pressure continues, the token could fall in the direction of the $ 2.50 – $ 2.60 zone.
For bulls to get the check back, XRP should break above $ 3.10 – $ 3.20, a level that can reopen the path to recovery.