$XRP Bulls Hit With $70M Losses as Token Slides Nearly 7%
Market focus shifts to $1.74 support as former floor turns into resistance
$XRP dropped sharply on Thursday, falling close to 7% and erasing bullish bets worth roughly $70 million as a broader, bitcoin-driven selloff swept through the crypto market.
The Ripple-linked token sank to around $1.75, with the move largely attributed to forced liquidations of leveraged long positions rather than any XRP-specific developments. Data shows selling pressure accelerated once prices slipped below the widely watched $1.79 level.
That break occurred on unusually high trading volume, transforming the $1.79–$1.82 range from support into a resistance band. The intensity of the move suggests participation from larger, institutional players rather than just retail traders.
In the near term, market participants are closely monitoring the $1.74–$1.75 area as a key support zone. A successful defense could see prices stabilize or trade sideways, while a failure to hold may expose XRP to further downside toward the $1.72–$1.70 range.#XRP #MarketCorrection
