News View Non-AMP

Why Did XRP Price Crash 11% Today?

Published by
Qadir AK

XRP’s price has dropped by over 11% in the past 24 hours, after teasing a possible bullish breakout earlier this week. This decline brought the price down to a critical support level of around 54 cents during the early Asian session on Thursday.

With a fully diluted valuation of $54 billion and an average daily trading volume of $3.3 billion, XRP became the biggest loser among the top 50 cryptocurrencies in the last 24 hours.

What triggered this dramatic reversal? What factors are driving XRP’s price downward? Keep reading to find out.

What Caused XRP’s Price Drop Today?

SEC Appeal Impact

The initial market hype and FOMO triggered by the announcement that Bitwise filed an XRP ETP with the US SEC dramatically waned after the agency filed an appeal to Judge Analisa Torres’ ruling. XRP investors expressed notable disappointments amid an anticipated bullish breakout to a new all-time high.

As the SEC’s appeal is likely to take months, many XRP holders are shifting to other promising altcoins. Analysts predict the crypto market could see a new bull run, similar to gold, which may benefit altcoins more than large-cap coins like XRP.

Large Whale Transfers

On-chain data shows whale investors have transferred over $30 million worth of XRP to exchanges like Bitso and Bitstamp in the past 24 hours. Earlier in the week, Ripple unlocked 1 billion XRP but returned 800 million to escrow. These large movements suggest caution among major investors.

With the SEC appeal still ongoing, XRP holders may face more price drops as Ripple sells more tokens to cover legal expenses. Ripple has admitted before that its business is not profitable without its monthly XRP sales, which could further weigh on the price.

Bearish Technical Analysis

From a technical standpoint, XRP recently lost support between 60 and 58 cents, weakening the chances of a bullish breakout. Popular crypto analyst Credibull Crypto noted that XRP needs to hold its support level at 54 cents to avoid dropping further toward 43 cents.

Is it time to diversify your crypto portfolio away from XRP? Share your thoughts.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Solana Memecoins Dump As SOL Whales Buy Top Crypto Presale Pepe Dollar, Solana Alpha Say’s PEPD In A 200X Play From Here

In a surprising twist to 2025’s meme coin narrative, major Solana (SOL) whales are exiting…

August 4, 2025

ChatGPT Identifies the Next Big Meme Coin After Shiba Inu (SHIB)

The crypto market has always been the go-to for flipping a few hundred dollars into…

August 4, 2025

Dogecoin Price Prediction : Can Doge Reach 10$? Or Pepeto Can Surpass Doge

The meme coin market is heating up again , and as the altseason narrative catching…

August 4, 2025

SEC’s ‘Project Crypto’ Could Transform Wall Street Forever — Say Bernstein’s Analyst

A revolutionary shift could be coming to the U.S. financial system that will transform Wall…

August 4, 2025

$1K in XRP Might Grow—But $1K in Ozak AI Could Explode to $100K

Investing $1,000 in XRP may deliver consistent gains through the years; however, putting the same…

August 4, 2025

Crypto Whales Sell XRP and Load Up On This PayFi Presale Gem Before It Lists On Exchanges

Crypto decline took a turn for the worse on Friday, as the fear of tariff…

August 4, 2025