The post XRP Eyes Drop Towards $3, But Bullish Narrative Is Still In Play appeared on BitcoinEthereumNews.com.

Key Insights: XRP dropped 19% from recent highs and triggered $113 million in long liquidations. Analysts are describing the drop as a healthy correction after a period of overbought conditions. $3 is now an important support level, and holding it could trigger a bullish reversal.   XRP recently experienced a strong rally that took it to a multi-year high of $3.66.  Soon after this, however, the cryptocurrency suffered a harsh correction and dropped by nearly 19% to $2.95. Despite the plunge, market analysts are still calm and optimistic.  Many are calling it a healthy reset in an overheated market, and while XRP appears to be eyeing the $3 price level, a recovery could be closer than most think. XRP Price Falls from Eight-Year Highs XRP’s price had been on a tear lately, after climbing to a multi-year high of $3.66. That bullish strength soon came to a halt on Thursday as the token dropped 12.5% in a single day. This also stands at as much as a 19% drop from its recent peak. This sudden move wiped out $113 million in leveraged XRP positions, with $106 million being long trades. In total, the general crypto market saw $968 million in liquidations over 24 hours, with Ether (ETH) leading the pack. While the headlines were focused on the drop, seasoned traders saw this move as part of a normal cycle.  According to analyst CryptoData, even though the market didn’t quite hit the $1 billion mark, the high volatility was enough to indicate the worst might be over. At least for now. Today we saw a massive flush across the board with most leverage longs/OI getting wiped. Although we didn’t reach the $1B of liquidations that historically marks a local bottom within 1-3 days, but the volatility over the last few days…

---

Filed under: News - @ July 25, 2025 2:26 am