XRP Price Sinks to $0.9880 as Investors Liquidate Positions
Ripple (XRP) price sank by 4% in the last 24 hours to $0.9890 on Saturday, tracking Bitcoin and the broader crypto market, with leveraged selling adding pressure.
This is bearish in the near term as traders said broad selling pushed XRP below the psychologically important $1 level. A sustained recovery above it could ease pressure, but the latest weekly decline signals continued downside risk.
The crypto asset fell amid broad market weakness, rate concerns, and tech-stock pressure, which is weighing on crypto and XRP. Long liquidations may have amplified the decline, with XRP liquidations reported at $18.83 million on November 13, mostly longs.
XRP fell 3.68%, while Bitcoin declined 2.63% and the total crypto market cap fell about 2.2%. That close direction and scale suggest market-wide selling was the main pressure.
The token and other digital assets fell sharply amid US Fed rates hike expectations, tech weakness, Bitcoin ETF outflows, and leveraged-position unwinds as broader headwinds.
According to crypto market reports, traders liquidated $18.83 million in XRP positions over 24 hours, with 94% of those liquidations from long positions. Traders said forced exits amplified selloffs during the downturn.
If XRP holds above $0.9862, it could recover toward $1.0566; a break below $0.9862 risks renewed weakness. The next market trigger is whether Bitcoin can reclaim $70,000.
Crypto analysts maintained that near-term pressure remains unless support holds and buyers regain ground. The broad crypto decline appears to be the main driver, with XRP long liquidations adding to the selling. Nvidia Share Price Falls Amidst CEO Jensen Huang Scandal, Probe
