XRP is facing more selling, now trading close to $1.70 after another round of declines. The token has dropped about 2.5% in the last day and is having trouble stabilizing after its recent fall. The quick return of downward momentum is especially notable.
This shows the market is still fragile. Buyers are staying away, and each small rally is quickly met with more selling. Right now, XRP looks like it is still correcting instead of getting ready for a strong recovery.
$70 Million in Liquidations Hit Bullish Traders
The latest pullback triggered more than $70 million in XRP futures liquidations, with the majority coming from long positions. In simple terms, many traders were positioned for a rebound, and when price slipped below key levels, forced selling kicked in.
As XRP dropped under nearby support zones, margin calls accelerated the decline. This type of liquidation cascade often creates exaggerated moves, where selling feeds on itself rather than reflecting a sudden change in fundamentals. It also explains why the price struggled to stabilize quickly after the initial dip.
Here are the main points from the liquidation data:
- Most liquidations came from long positions, which shows traders were still optimistic.
- Forced selling made the market more volatile, instead of traders taking profits naturally.
- Leverage is coming down, but it hasn’t been completely cleared from the market yet.
Weak Bitcoin Keeps Risk Appetite Low
XRP’s weakness is part of a bigger trend. Bitcoin’s slow price movement has made the whole crypto market more cautious. When Bitcoin isn’t moving up, traders usually cut back on altcoins, especially those already under pressure.
At the same time, there’s little evidence of aggressive dip-buying. Spot demand appears thin, suggesting many investors are waiting for clearer confirmation before stepping back in. Until overall market confidence improves, XRP is likely to remain sensitive to downside moves.
XRP Technical Picture Points Toward $1.60
On the 4-hour chart, XRP price prediciton is strongly bearish as XRP keeps making lower highs and lower lows, following a clear downward trendline that has limited recoveries since mid-January. The price has dropped below the 1.618 Fibonacci extension near $1.73, drawing focus to lower support levels.
XRP is now just above $1.64, which matches the 2.272 Fibonacci extension. This area might provide a brief pause, but it usually doesn’t hold as a bottom during a strong downtrend. If the price falls below $1.64, it could move toward $1.60 to $1.59, where the 2.618 extension and previous liquidity are found.
Momentum continues to support a bearish outlook. The RSI is still below 40 and moving closer to oversold territory, with no sign of bullish divergence. This points to ongoing weakness instead of a sign that the decline is ending.
For sentiment to improve, XRP needs to move back above $1.75 to $1.78, and then above $1.86. Until that happens, the technical outlook suggests caution, with $1.60 as the next important level to watch on the downside.
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The post XRP Price Prediction: $70M Liquidated as XRP Tests $1.70 – Is $1.60 Next? appeared first on Cryptonews.
