XRP Price Breaks Below Key Support Level Amid Broader Market Volatility
XRP's price plummeted by about 5% to $1.05 on July 28, breaking below a closely watched technical floor as a broader risk-off move and forced long liquidations pushed the token down.
The decline extended a downtrend that has kept XRP under pressure since May, with the 4-hour chart showing two rounded peaks near $1.17 forming a double-top structure.
According to CoinGlass' 24-hour liquidation heatmap, XRP fell from around $1.105 to $1.05 as the market moved through several leveraged trading zones, clearing liquidity around $1.095 and $1.08 before moving quickly toward $1.06.
The RSI on the 4-hour chart dropped to 25.93, placing XRP in oversold territory, while Chaikin Money Flow stood at -0.12 on the daily chart, indicating that selling pressure has outweighed accumulation during the indicator's 20-day window.