XRP Plummets 22% in 24 Hours as Bull Buys the Dip at $1.28
XRP (Ripple) dropped ~22% in the past 24 hours, the worst performance among the top‑100 cryptocurrencies. The token has fallen ~32% over the last week and roughly 50% since trading at $2.40 on January 6; it is down about 67% from its July 2025 high of $3.65. The wider market also retraced — BTC, ETH and BNB fell about 10–11% — but XRP’s decline was notably steeper with no single clear catalyst reported. Prominent XRP supporter EGRAG CRYPTO announced a buy of XRP at $1.28 as a swing trade, planning to hold toward $2.20 if XRP reclaims $1.85; they will reassess on a confirmed close above $2.50. Open interest in XRP ETFs and recent ETF flows were referenced elsewhere as market context. Key data points for traders: 24‑hr drop ~22%, 7‑day drop ~32%, monthly decline ~50%, decline from ATH ~67%, buy level reported $1.28 with targets $1.85, $2.20 and watch for close above $2.50.
Bearish
The categorization is bearish because a 22% single‑day drop and 32% weekly decline indicate strong selling pressure and potential loss of investor confidence in the near term. XRP’s decline is substantially larger than BTC, ETH and BNB, suggesting idiosyncratic selling or leverage/waterfall liquidations specific to XRP or XRP‑related products (for example, ETF flows or concentrated positions). Short‑term effects likely include elevated volatility, increased liquidations, lower short‑term funding and wider bid‑ask spreads for XRP — conditions that typically favor momentum shorts and cautious longs. A confirmed break decisively below the $1.28 support would invite further downside, while reclaiming key resistance levels ($1.85, $2.50) would be needed to shift sentiment. Historically, large single‑asset crashes have produced oversold rebounds if fundamentals or catalysts (legal/partnership wins, ETF inflows) change — but absent a clear positive catalyst, the immediate market impact remains negative. Traders should watch volume, open interest in XRP derivatives and ETF flows, plus on‑chain indicators (whale movements, exchange inflows) to gauge whether the move is capitulation or a deeper trend change.