Crypto News Today: XRP Falls to $1.46 After 50M Sell-Off on Upbit Triggers Sharp Pullback

XRP slid to about $1.46 on Monday after a sharp burst of sell-side pressure hit Upbit, the largest crypto exchange in South Korea. The drop interrupted a short rebound that lifted XRP toward $1.66 before sellers regained control.

The broader market also stayed under pressure. The total cryptocurrency market cap hovered near $2.4 trillion, keeping traders cautious and reducing appetite for high-volatility assets.

Upbit XRP Sell-Off Drives Price Back Toward the $1.40 Zone

A market analyst known as Dom linked the pullback to unusually heavy selling on Upbit. Dom estimated that traders executed roughly 50 million XRP in net market sales over a 15-hour window. 

Dom also reported that wash trading made up less than 0.07% of the activity. That data suggests that most orders reflected real spot selling rather than artificial volume.

Order flow details pointed to sustained pressure rather than a single large print. Dom counted 12,775 unique trade sizes and saw the strongest wave between 8:00 a.m. and 12:00 p.m. KST. During that period, the book processed about 2,500 sells per minute, with many trades sized between 100,000 and 250,000 XRP.

Price trackers showed XRP trading inside a $1.45 to $1.54 daily range after the drop. Data also showed that Upbit concentrated a large share of the day’s activity during the spike-and-reversal sequence.

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Federal Reserve Staff Paper Outlines “Crypto Risk Class” Approach

The sell-off landed as traders discussed a new Federal Reserve staff research paper focused on derivatives margin rules. The paper studies how institutions could classify crypto-related risks inside the ISDA Standard Initial Margin Model (SIMM).

In its abstract, the paper says crypto assets “are best classified into a distinct risk class within SIMM” and split into two buckets: pegged and floating (unpegged) cryptocurrencies.

The paper’s page includes a disclaimer that the research reflects the authors’ views and does not represent official concurrence. That framing matters for market interpretation because it limits any immediate regulatory read-through.

Still, traders often track this type of work as  banks and clearing participants use margin models to size risk. If crypto receives consistent treatment, institutions may find it easier to model exposures instead of forcing them into legacy categories.

Ripple Regulation Focus Stays Active After CFTC Panel Appointment

Policy headlines also stayed in focus after the Commodity Futures Trading Commission named Brad Garlinghouse, Ripple’s CEO, to its Innovation Advisory Committee. The member list also includes senior leaders from major market and technology firms.

CFTC Chairman Michael S. Selig said the committee’s work will help the agency “reflect market realities” as it modernizes oversight for new technologies.

For XRP markets, regulation updates often move sentiment alongside macro drivers such as rates and liquidity. That mix can amplify short-term swings, especially when a single venue shows concentrated selling.

Traders now watch whether XRP price holds above the mid-$1.40 range or tests lower support. They also track exchange-level flow, market-wide risk appetite, and policy signals that can shift positioning quickly.