XRP liquidations hit 39 million dollars as price slides! What does this signal for the market?

As selling pressure continues across the cryptocurrency market, XRP is struggling to stabilize just above the critical 1 dollar threshold—a level closely monitored by investors. In an environment where the total global market cap has slipped below 2 trillion dollars due to a widespread downturn, XRP has fallen roughly 4 percent over the past 24 hours, currently trading near 1.03 dollars.

Key support emerges on the monthly chart

A look at longer timeframes tells a different story than the short-term focus on 1 dollar. According to TradingView data, the Bollinger Bands now suggest the main support zone for XRP has shifted down to 0.91 dollars. This scenario indicates the psychological power around the 1 dollar mark has weakened, putting more emphasis on the technical levels that have formed over the monthly chart.

Mini glossary: Bollinger Bands are a technical indicator used to trace price volatility and identify potential support and resistance areas. The lower band often acts as the boundary prices may touch during sharp selloffs.

XRP—featured in this news—is the digital asset used for cross-border payments within the Ripple ecosystem. The key takeaway from the analysis is that technical boundaries on monthly timeframes may ultimately prove more influential than short-term psychological levels.

Liquidations amplify downward pressure

One of the main forces behind the sharp market movement has been a major wave of liquidations in the derivatives segment. According to CoinGlass data, a total of 1.48 billion dollars’ worth of positions were wiped out during the last daily move. This liquidation wave hit 217,000 traders, with 1.21 billion dollars of those positions coming from the long side.

XRP investors were hit particularly hard. Of the total 39 million dollars in XRP liquidations, a staggering 38.8 million came from bullish positions—making evident just how much buying power weakened during the latest selloff.

Another clear sign of selling pressure came from the actions of a large investor operating with the 0xf79C wallet on Hyperliquid. This trader was forced to close long positions worth 47.7 million dollars in BTC and 28.5 million dollars in XRP, suffering overall losses totaling 8.42 million dollars.

A move below 1 dollar is on the table

According to the analysis, once XRP dropped beneath the mid-range level of 2.05 dollars—previously seen as a key median—the price has geared towards the lower band set at 0.91 dollars, a historically significant volatility boundary. In this context, the current price levels may represent only a temporary support rather than a lasting floor.

If selling continues, falling below the 1 dollar level should not come as a technical surprise. Analysts say such a move would reflect a correction down to the real support area highlighted on the monthly chart, potentially resetting market dynamics for XRP going forward.

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