XRP recorded a steep drop of 12.22% on July 24 to trade at $3.04, shaking bullish sentiment across markets. The fall triggered over $112 million in liquidations, mostly affecting long buyers expecting gains from recent developments. As the broader crypto market struggled, XRP stood out due to the scale of the long squeeze.
The XRP price failed to rise despite the announcement of VERT’s $130 million debt tokenization using the XRP Ledger. This disappointment led to over $105 million in long positions liquidated, surpassing even Bitcoin’s liquidation value of $76 million. The timing coincided with buyers entering positions on July 23, hoping for an upward rally.
While total market liquidations crossed $889 million, XRP’s liquidation volume remained significant compared to its open interest size. Bitcoin’s open interest stands at $82 billion, yet XRP’s $9.08 billion figure faced a higher liquidation hit. This marks one of the most severe long squeezes seen in XRP throughout 2025.
Though the VERT news appeared bullish, traders exited quickly after the price reaction failed to meet expectations. The impact was not just psychological, as support levels came under immediate pressure. As a result, XRP short-term sentiment remains weak even with earlier bullish indicators present.
Despite the downturn, XRP has formed a technical pattern known as the cup and handle, typically a bullish signal. Analysts identify $3.39 as the resistance level to watch, as clearing it could lead to a 91% surge. If this plays out, XRP could potentially reach $6 within the next market phase.
A golden cross pattern appeared on July 21, indicating a possible long-term bullish trend based on past movements. Historical data from August 2024 showed a similar setup followed by a five-month rally of over 500%. The XRP price prediction remains contingent on returning volume and breaking resistance.
Support remains intact for now, and the pattern’s structure offers optimism if buyers regain momentum soon. However, without significant inflow and sustained demand, bears may drive the price toward the next support at $1.77. For now, XRP must hold its current levels to prevent further downside pressure.
The XRP price prediction received another boost after analysts identified a bull flag pattern that remains active despite the 12% drop. One analyst maintained a $15 forecast, pointing to continued long-term upside based on historical technical trends. This projection remains speculative but adds context to the ongoing price movements.
For XRP to reclaim upward momentum, the price must rise above near-term resistance and sustain new buyer interest. Otherwise, the previous golden cross and bullish patterns may fail to push prices higher amid broader market weakness. The next few days remain critical in determining XRP’s near-term direction.
XRP continues to hold technical structures that support further gains, yet market pressure threatens this setup. Buyers need to return in strength to validate bullish predictions and test higher resistance levels. Until then, the XRP price prediction remains tied to market-wide recovery and renewed confidence.
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