Rally

BlackRock

<p>XRP’s recent rally has hit a major roadblock after the cryptocurrency saw one of its biggest single-day drops since the “Uptober” rally started. The sudden 5% fall wiped out many heavily leveraged long trades and even pushed XRP out of the top three cryptocurrencies by market value, showing that market sentiment is quickly turning negative.</p>
<h2 class="wp-block-heading" id="liquidation-imbalance-surges-4-335-as-longs-unwind">Liquidation imbalance surges 4,335% as longs unwind</h2>
<p>The technical caution coincides with a wave of heavy liquidations in the XRP market. Data from Coinglass shows that XRP’s hourly liquidation imbalance suddenly spiked by 4,335% after the sharp drop in its price. In the last hour alone, $8.14 million worth of positions were liquidated. Long positions suffered the most, with $7.96 million wiped out, while short positions saw just $179,430 in losses.</p>
<p>The broader data <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noopener noreferrer nofollow">reveals</a> how large the losses have been over different time periods. In the past hour, $38.32K was liquidated, including $34.28K from longs and $4.04K from shorts. Over four hours, total liquidations reached $3.43 million, with $3.27 million from longs and $155.42K from shorts.&nbsp;</p>
<p>Over 12 hours, $7.25 million was wiped out, including $6.72 million in longs and $523.13K in shorts. Over 24 hours, total liquidations hit $25.95 million, with $23.62 million from longs and $2.33 million from shorts.</p>
<h2 class="wp-block-heading" id="descending-triangle-raises-bearish-concerns">Descending triangle raises bearish concerns</h2>
<p>Well-known trader Peter Brandt pointed out a possible bearish pattern forming on XRP’s price chart. In a post on X, Brandt shared a classic descending triangle pattern from Edwards and Magee, showing how such structures typically lead to breakdowns.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>On the left is a classic descending triangle from Edwards and Magee, showing what descending triangles are supposed to do. On the right is a developing descending triangle. ONLY IF it closes below 2.68743 (then I'll be a hater), then it should drop to 2.22163. <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> <a href="https://t.co/3GI7nT1TaW" rel="noopener noreferrer nofollow">pic.twitter.com/3GI7nT1TaW</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1975605486637723982?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 7, 2025</a>
  </blockquote>
 </div>
</figure>
<p>On XRP’s chart, he noted that “only if it closes below $2.68743 (then I’ll be a hater), then it should drop to $2.22163.” The warning suggests a decisive close below that level could open the door for a deeper correction.</p>
<h2 class="wp-block-heading" id="xrp-loses-place-from-top-3-position-as-price-falls-below-3">XRP loses place from top 3 position as price falls below $3</h2>
<p>Just a day after surpassing BlackRock in market capitalization, XRP’s fortunes reversed sharply. The asset plunged over 4% in a single hour and fell 5.16% in the past 24 hours, trading around $2.88 at press time, down from an intraday high of $3.05. Its market capitalization also dropped by more than 5%, causing it to lose its third-place ranking to BNB, which hit multiple all-time highs within the same period.</p>
<p>With investors questioning XRP’s ability to revisit its 2018 peak of $3.84, the $2.68743 support level has become a key line to watch. A breakdown below it could confirm Brandt’s bearish outlook and potentially push the price closer to $2.22163.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2025/10/07/bitcoin-rally-strengthens-as-miners-and-traders-re-enter/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Rally Strengthens as Miners and Traders Re-Enter</a></p>
</blockquote>

XRP faces Technical Breakdown Pressure As Liquidation Surges 4335%

Table of Contents

The Crypto Times

Other articles published on Oct 8, 2025

Join our free newsletter for daily crypto updates!