In the past 24 hours, XRP has experienced a real "roller coaster". The price once dropped over 6%, falling to $3.00 from a high point, and then slightly rebounded, ultimately stabilizing around $3.12. This significant drop coincided with a widespread sell-off across the entire crypto market, caused by a liquidation event exceeding $1 billion that triggered a chain reaction, pushing XRP to its lowest point in over a week.

📊 Trading volume surges, selling pressure immense

The 24-hour trading volume exceeded $11.1 billion, especially during the early morning hours, when the market saw a wave of strong selling, causing XRP's hourly trading volume to spike to 437 million units, setting a record for the highest hourly trading volume this quarter. This can be understood as a large influx or outflow of capital in a short period, naturally pushing the price up and down.

🛑 Buying pressure stabilizes at the end, market sentiment eases

It is worth noting that during the end-of-day phase, buying pressure began to return, helping to stabilize the price. This indicates that although the market experienced a wave of liquidation storms, there are still investors who believe that prices around $3 are worth picking up, leading to a brief respite in the market.