XRP Slides 4% as Global Trade Frictions and Liquidations Pressure Markets
XRP took a hit in the last 24 hours, dropping as much as 6% amid heightened global trade tensions and a surge in liquidations that rocked the broader crypto market. The token’s price slid from $2.20 to $2.14 while the overall crypto market declined 3.8%, bringing the total market capitalization down to $3.3 trillion.
The selloff followed the U.S. Court of International Trade’s decision to overturn tariffs imposed under the Trump administration, rekindling uncertainty around trade policies and unsettling risk assets worldwide.
XRP was notably impacted, with liquidations of long positions exceeding $29.68 million as traders moved quickly to adjust to market volatility.
Industry Highlights:
- China-based Webus International aims to raise $300 million via non-equity financing to support its global chauffeur payment system backed by XRP reserves. The plan includes leveraging XRP’s cross-border settlement abilities for on-chain booking and a Web3 loyalty program. The company is also renewing its partnership with Tongcheng Travel Holdings to facilitate payouts and rides on the XRP Ledger.
- Ripple’s RLUSD stablecoin was listed on Bitget last Thursday, expanding the stablecoin’s accessibility.
- Ripple released a report underscoring the $31.6 trillion B2B cross-border payment market, projected to hit $50 trillion by 2032. The report highlights blockchain solutions like Ripple’s stablecoin network for offering faster, cheaper, and more transparent payments compared to traditional systems.
Technical Analysis:
XRP encountered strong resistance at $2.21 and was unable to mount a sustained rally above that level. Buying interest near $2.11 during early trading hours helped cap losses.
The token has been consolidating between $2.13 and $2.14, but lower highs point to ongoing downward pressure.
A higher low formed near $2.135 late in the session, indicating potential short-term support, while resistance remains at $2.144–$2.145.
Price Summary:
- XRP declined 5.7% from $2.20 to $2.14 over 24 hours.
- Price range spanned 5.9% between $2.22 high and $2.09 low.
- Heavy selling pressure around $2.21 during peak hours.
- Strong buying at $2.11 prevented further slide.
- Consolidation around $2.13-$2.14 indicates possible stabilization.
- Higher low at $2.135 with resistance near $2.144-$2.145.
- Session closed at $2.137 amid volatile trading.
As macroeconomic tensions continue and technical resistance holds, XRP traders will be closely monitoring whether support holds or if further declines are on the horizon.
