XRP Price Drops 7%: Bulls Face $70M Liquidation as Ripple Token Corrects

The XRP token experienced a sharp 7% decline, triggering significant losses for bullish traders. Data from derivatives markets reveals that long positions worth approximately $70 million were liquidated during this downturn. The price drop aligns with a broader correction in the cryptocurrency market, raising questions about short-term momentum for the Ripple-affiliated asset. Market analysts are monitoring key support levels to gauge whether this is a temporary pullback or the start of a deeper trend reversal for XRP. Trading volume has spiked alongside the volatility, indicating heightened market activity and trader uncertainty.