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Friday saw crypto's worst liquidation as a crazy volatility bout ripped through the market, triggering one of the largest declines in prices of XRP, BTC, ETH and other digital assets seen all year.
XRP fell as much as 42% in Friday’s session, its sharpest one-day drop in the recent year. The sell-off drove XRP's price as low as $1.77 from a high of $2.83 before slightly rebounding.
The price of XRP steadily declined from a high of $3.10 on Oct. 2. Although the drop was punctuated with slight rises, bears gained an upper hand on Friday, crashing XRP's price to a low of $1.77, last seen in April 2025. As reported, multiple death cross signals had appeared on XRP's short-term charts (the one-, two-, three- and four-hour charts), preceding the massive drop.
The price of XRP still seems to be in the woods; at the time of writing, XRP was trading in red, down 14% in the last 24 hours and 19% weekly to $2.44. The drop has pushed XRP lower in crypto rankings, currently the fifth largest with a market valuation of $146.73 billion.
XRP going nowhere
Coinbase director, Conor Grogan, stated that the recent market drop marks the "worst altcoin flashcrash" he has ever seen across the board.
In the last 24 hours, $19.38 billion has been liquidated across digital assets, according to CoinGlass data. Bitcoin accounted for $5.38 billion of this figure, while altcoins accounted for a massive $14 billion.
Reacting to the crazy volatility seen in the crypto market, XRPL dUNL validator Vet says XRP isn't going anywhere.
"Be assured, XRP and the XRP Ledger isn't going anywhere. Volatility is part of the journey," Vet wrote in a tweet.
Amid the market volatility, Ethena's USDE, BNSOL and WBETH saw a price depeg, which caused forced liquidations in positions.
Ripple USD stablecoin (RLUSD) faced its first stress test in the market since its launch in December 2024. RLUSD rather held up strong, maintaining its USD peg amid the market crash.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team