Price Plummet: XRP Falls 19%—Analysts Call It a “Healthy Correction” 😂

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Key takeaways:

  • XRP, the beloved underdog of crypto, nosedives 19% from its zenith, losing a casual 12% in just 24 hours—$113 million evaporated into thin air. 💸

  • But fear not, wise analysts proclaim this a “healthy correction,” with dreamlike price aspirations of $10-$15 still riding the bull! 🐂

Today, the XRP train has derailed by 12.5%, plummeting alongside the rest of the crypto circus, which has decided to juggle itself down by 3%—now rocking a hefty $3.79 trillion market cap. 🔥

Even with this chaotic dip, the so-called financial prophets are calling it a splendid “healthy pullback,” and the tantalizing high targets of double digits remain in the game. 🚀

XRP tumbles 19%, with liquidations akin to a mass exodus

Last Thursday, XRP (XRP) took a deep dive, hitting an intra-day low of $2.95, down 19% from its glorious multiyear high of $3.66, per the ever-reliable ink from CryptoMoon Markets Pro and TradingView. 🧐

A tidal wave of liquidations and thinning liquidity were the culprits, as overzealous long holders were dramatically flushed out—quite the spectacle! 🎪

The overall crypto realm faced a staggering $968 million in total liquidations in the past 24 hours; Ether (ETH) was the main trapeze artist, accounting for $195 million of that action. 🤡

XRP’s leverage also took a hit, suffering $113.62 million in liquidations, $106.8 million of which were long positions—not a great day at the office. 😅

In the wild world of crypto, liquidations occur when leveraged positions lose the plot, auto-selling to cover losses and sending the market into a delightful frenzy. 🥳

Nevertheless, with nearly $1 billion tumbling down the drain, some say this marks the arrival of a market bottom. 🛑

“While we didn’t reach that historic $1B liquidation marker, perhaps the recent carnival of volatility is enough to fill the gap,” quipped anonymous analyst CryptoData on X. 🎭

XRP’s price tumble: A reaction to its overzealous sprint

The relative strength index (RSI)—a grand indicator of market health—showed XRP was overzealous, hitting peaks of euphoria with its run to $3.66.

Now, the RSI has nosedived to 61 from a dizzying 71 on the weekly scale. It teeters around a neutral 56 on the daily chart after hitting a wild 88 last Friday… talk about a rollercoaster! 🎢

The $3 level stands as a fortress, a 100-period simple moving average (SMA) cocooning the bulls. If they can’t protect it from the wolves, a horrifying dip to $2.60 may be in the cards. 😱

These lower levels are a playground for savvy traders seeking to pile up at a discount—smart shopping before the uptrend rears its lovely head. 🛒

XRP’s recent dip saw serious selling drama, but buyers stepped in like heroes in capes, snatching up bargains with gusto. 📈

“Fear not, dear investors! Cling to your positions like a toddler hanging on to a parent at the supermarket,” urged market analyst Egrag Crypto. 🙌

Another sage voice, XRPunkie, touted the ongoing pullback as merely a “healthy correction,” adding, “It’s just a little pit stop before we soar once more. Targets of $10 to $15 are still alive and kicking!” 💪

“Grab your popcorn, chill out, and let this train come back to its tracks. Higher prices are just around the corner!” 🍿

Lastly, crypto oracle Dom hinted that XRP might reach between $7-$10, contingent on its market charm and the regal waltz of the rest of the crypto ensemble. 💃

Bitpanda’s Luca the Magnificent (or should I say, deputy CEO) believes XRP is plotting a comeback to conquer its 2018 all-time high, armed with robust liquidity and growing altcoin enthusiasm. 🏆

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2025-07-24 14:00