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XRP’s market faced sharp turbulence on October 7 as traders liquidated over $15 million in leveraged long positions, driving the price down to $2.86, its steepest daily drop since the Uptober rally began. Data revealed synchronized selling pressure across leveraged markets, signaling weakening bullish momentum amid mounting volatility. The token’s market capitalization fell to $171.81 billion, accompanied by a 3.42% price decline in 24 hours.
Liquidity activity was essentially balanced between September 23 and October 8. Switching of long and short liquidations implied a never-ending tug of war between the bull and bear traders. However, on October 7, the long liquidations reached a high of $15.57 million, the highest in over two weeks.
Short liquidations, however, remained limited, showing that bullish traders bore the brunt of the sell-off. In the past hour, $38,320 in total positions were liquidated, including $34,280 from longs. Within four hours, $3.43 million in positions were closed, with $3.27 million from longs and only $155.42 from short liquidations.
Over 12 hours, long liquidations totaled $6.72 million, while shorts accounted for $523.13K. Within 24 hours, total liquidations reached $25.95 million, with long positions contributing $23.62 million. Despite steady prices in the $0.50–$0.53 range, XRP traders faced repeated stop-outs, highlighting the risks associated with excessive leverage. The sharp losses coincided with a broader shift in sentiment as XRP lost its top-three market ranking. Could this be an early warning that bullish confidence in the token is fading?
Veteran trader Peter Brandt added a technical layer to the growing bearish sentiment through an analysis shared on X. His TradeNavigator chart displayed a developing descending triangle pattern in the XRP/USDT pair, mirroring classic setups described in Edwards and Magee’s technical analysis guide.
According to Brandt, XRP trades within a narrowing range between the $3.20 resistance and the $2.68 support. He stated, “ONLY IF it closes below 2.68743 (then I’ll be a hater), then it should drop to 2.22163.” As of October 7, 2025, XRP hovered around $2.90, just below both its 8-day and 18-day moving averages, indicating waning momentum.
The ADX (14) measured 12.56, showing weak trend strength, while the Average True Range (30) stood at 0.1173, reflecting compressed volatility. Brandt’s assessment suggests that a close below support may trigger a technical breakdown toward $2.22163, aligning with the ongoing liquidation data.
The CoinMarketCap data indicates that XRP is trading at $2.86, representing a 3.42% decline in a day. The market cap of the token has decreased to $ 171.81 billion, and the trading volume has increased by 10.13% to $7.15 billion, indicating ongoing trading, albeit with losses.
The fully diluted valuation (FDV) was $ 286.95 billion, and the volume-to-market cap ratio was 4.17, which attests to a moderate liquidity status. The circulating supply of XRP is 59.87 billion tokens, with a maximum supply of 100 billion XRP tokens. There are approximately 477,900 holders worldwide.
Although the trading volume has been dropping sharply, its participation remains high, indicating that XRP has deep liquidity, despite traders responding to technical and derivative forces. The Coinglass, TradeNavigator, and CoinMarketCap combined data transport an image that depicts a volatile environment in which leveraged investors are facing increasing liquidation risk as the market prepares for the possibility of a downside in case critical support levels are breached.
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