Major Exchange dump sends XRP sharply lower

TLDR

A large sell-off of XRP on South Korean exchange Upbit has pressured the tokens price lower, erasing billions of dollars in market value.

1. Around 50 million dollars of XRP sold on Upbit over about 15 hours pushed price down to roughly 1.46 dollars and triggered a near 10 percent daily drop.
2. The dump hit a major venue during a weak broader crypto session, so slippage on Upbit quickly propagated across global markets, pulling XRPs market cap down by about 11.6 billion dollars.
3. Key levels now sit near 1.40 dollars support and 1.50 dollars resistance, with further large exchange flows and broader market risk likely to decide whether selling pressure continues.

Deep Dive

1. Size And Source Of The Dump

Reporting from CoinGape describes a roughly 50 million dollar XRP sell-off on Upbit, South Koreas largest exchange, spread over about 15 hours and dominated by genuine spot selling rather than wash trades (only about 0.07 percent wash volume) link.

This selling wave drove XRP down to around 1.46 dollars and left the token about 9 percent lower over 24 hours, despite having been as high as about 1.6 dollars shortly before.

Finbold estimates that XRPs market capitalization fell from roughly 101 billion dollars to about 89.31 billion dollars in the same window, a contraction of about 11.6 billion dollars tied largely to this event link.

2. Why It Hit Global Price

Upbit is a major KRW trading venue for XRP, so aggressive market selling there can thin the order book, push the local price down, and create arbitrage gaps that other exchanges quickly follow.

The dump also landed into broader crypto weakness, with Bitcoin failing to hold above 70,000 dollars and traders watching upcoming Federal Reserve minutes and inflation data, which increased risk aversion link.

Right now XRP trades around 1.48 dollars, down 4.96 percent over 24 hours but still up 6.34 percent on the week, with a market cap near 90.4 billion dollars and 24 hour volume around 4.15 billion dollars, while it remains about 61.37 percent below its all time high.

3. Levels And Flows To Watch

Analysts now flag roughly 1.40 dollars as immediate support and about 1.50 dollars as nearby resistance, with a sustained break below 1.40 dollars seen as opening room for deeper losses if selling persists link.

High frequency sell pressure specifically on Upbit, or a shift from earlier accumulation trends on larger venues like Binance, would signal that this was not just a one off event but a change in positioning.

ETF flows and exchange reserves remain secondary but useful signals: renewed inflows into XRP products or continued net outflows from centralized exchanges would point toward dip buying rather than a prolonged liquidation phase.

Conclusion

The sharp XRP drop was driven mainly by a sizable, concentrated sell-off on a major South Korean exchange, amplified by thin liquidity and a cautious macro backdrop.

Whether this becomes a short lived shakeout or the start of a deeper correction will depend on how price behaves around the 1.40 to 1.50 dollar band and whether big holders continue to offload or resume accumulating on major venues.