XRP falls toward $1.42 as Bitcoin sell-off and long liquidations weigh

What happened

XRP price is holding near $1.47 after falling 2.60% over the past 24 hours. A sharp Bitcoin-led sell-off pressured the wider cryptocurrency market. Bitcoin dropped nearly $2,000 within 20 minutes on October 6, triggering heavy liquidations across leveraged positions. About $394 million in leveraged long positions were liquidated within an hour. Around $11 million in XRP long positions were liquidated as the price moved lower. The decline pushed XRP toward the $1.45-$1.50 support area, where buyers have recently stepped in.

Later on October 7, XRP declined to approximately $1.42, down 4.77% over the last 24 hours. The token's market capitalization plunged by over $4.4 billion to roughly $90.3 billion. Its 24-hour trading volume spiked by nearly 77% to $3.1 billion.

On the four-hour chart, XRP printed a fresh TD Sequential buy signal after falling from the $1.53 region toward $1.39. The chart places XRP near $1.409, with the latest decline erasing roughly 9% from the recent peak. Selling pressure took XRP through $1.48 and $1.45 before price reached the $1.39 area.

Why it matters

The XRP decline came mainly from weakness across the broader crypto market. Bitcoin's ability to regain and hold the $84,000 area could therefore remain important for XRP and other major altcoins. XRP also faced pressure from the derivatives market. $19.14 million in XRP long trades were liquidated over the past 24 hours, compared to $518,360 in shorts. Open interest stood at $7.5 billion, while 24-hour trading volume was $18.08 billion.

Despite the drop, institutional demand showed signs of holding up. United States spot XRP ETFs recorded an inflow of $3.14 million on October 6, 2026. XRP has added 2.43% over the last 30 days, and its price retested its June 2026 breakout following the slump.

Analyst Cryptic labs said buyers are returning to XRP near $1.44-$1.45, based on the short-term chart. On the four-hour chart, resistance sits around $1.47. A sustained move above $1.47 could open the way toward $1.50 and potentially $1.62. On the downside, a four-hour close below roughly $1.38 would weaken the current setup. The broader daily trend remains stronger, with a recent higher low around $1.31.

What the data shows

• The United States 30-year Treasury yield surged to a 24-year high of 5.72%, dampening investor appetite for crypto assets.
• XRP's market capitalization plunged by over $4.4 billion to roughly $90.3 billion.
• 24-hour trading volume spiked by nearly 77% to $3.1 billion.
• Open interest was $7.5 billion, while 24-hour trading volume was $18.08 billion.
• The chart places XRP near $1.409, with the latest decline erasing roughly 9% from the recent peak.

Background

• Evernorth has delayed the expected Nasdaq debut of its combined company under the ticker XRPN. An administrative delay pushed the expected merger closing with Armada Acquisition Corp. II to around October 9, with Nasdaq trading now expected to begin around October 12 instead of October 8. The company said the delay is not expected to affect the merger closing.
• XRP had also been trading within a tightening range, and the recent decline took the price below its short-term moving averages. The $1.45 level is now an important area for traders to watch.

What is still unclear

• The four-hour TD Sequential buy signal does not confirm that XRP has already established a durable bottom. The setup puts the possibility of a short-term low or relief rebound back into focus.
• A sustained move below $1.39 would weaken the immediate reversal setup and show that sellers remain in control despite the buy signal.
• The Nasdaq trading start is expected around October 12, not a fixed date.

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