XRP lost $22M after liquidations, but losses remained lower than broader market decline.
Bullish updates from Circle and Trident Digital helped stabilize XRP despite market chaos.
Bearish sentiment lingers as Options market shows increased hedging ahead of the FOMC meeting.
A $22 million loss can rattle even the strongest hands. But Ripple's XRP barely flinched. While other top altcoins like ETH and SOL saw 8% losses, XRP held firm with just 4%. Behind the scenes, something powerful stirred. A treasury announcement. A utility milestone. And a quiet but steady wave of demand. These signals hint at a deeper strength. So, can XRP still hit $2.3, or will it slip lower first?
https://twitter.com/CryptoAmb/status/1933782263126175914?t=8hKlwDw6bLTNTRX2ju3aKw&s=19 $22 Million Gone, Yet Bulls Hold the Line
Thursday’s bloodbath swept through crypto like a flash flood. Middle East tensions triggered panic. Liquidations reached $1.16 billion across the board. XRP alone saw $22 million in losses, with leveraged longs losing $20 million. Despite the hit, XRP’s reaction was surprisingly calm. In fact, it held up better than most. That stability wasn’t accidental. Behind it stood two bullish catalysts that may have kept the floor from falling out.
First, Circle’s USDC joined the XRP Ledger. This move strengthened XRP’s real-world utility, especially for payments. Then came the bombshell: Nasdaq-listed Trident Digital Tech launched an XRP treasury plan. The firm pledged to acquire $500 million worth of XRP. That put the token alongside BTC, ETH, and SOL as a serious corporate asset.
XRP’s Fate: Between $1.8 and $2.3
These updates couldn’t stop the dip but helped soften the fall. At the same time, Options volume spiked 225% to nearly $4 billion. That showed big players weren’t leaving—they were hedging and waiting. On the charts, XRP dances on a razor’s edge. Price hugged the 200-day SMA, a vital support line. Below that sits $1.9, then $1.8, as next key levels.
Should bulls lose steam and market panic return, those lower zones may come fast. But on the flip side, $2.3 still stands as reachable resistance. If broader sentiment shifts or global tensions ease, XRP could surge to retest that level. For now, though, caution rules the Options market. The 25 Delta Risk Reversal flipped negative for end-June expiry. This shows more traders are buying puts than calls. In short, they fear more downside before a rebound.
Uncertainty still looms. The FOMC meeting next week could shake things up again. And nobody knows how the Middle East situation may evolve. Yet, with growing real-world adoption and corporate interest, XRP holds long-term strength. Bulls may bleed now, but the fire hasn’t gone out. If confidence returns, $2.3 may not be so far after all.
