XRP traded lower on Wednesday as a wider crypto market downturn, led by Bitcoin, triggered a wave of forced liquidations.
According to CoinGlass data, roughly $930 million in long positions were wiped out over the past 24 hours, intensifying downside pressure across major digital assets.
The downturn followed President Trump’s renewed denial of reports suggesting a U.S.–Iran deal, further dampening market sentiment.
Notably, the decline has pushed XRP into extreme fear conditions, with Santiment data showing that roughly 47% of holders have now entered an undervalued zone, reflecting growing investor stress and weak short-term confidence.
Furthermore, the firm highlighted this week growing signs of capitulation among XRP traders. The firm noted that the average XRP trader active within the last 30 days is currently sitting at a loss of approximately 47%, one of the deepest negative readings recorded in recent years.
 
Santiment’s Market Value to Realized Value (MVRV) data shows XRP’s 30-day MVRV ratio has dropped to its lowest level since December 2020, a period that historically preceded significant market recoveries.
According to the firm, the deeply negative MVRV reading suggests that many retail traders have already exited positions in panic, potentially reducing downside pressure going forward. Historically, periods where traders are heavily underwater have often created favorable conditions for market rebounds, especially when accompanied by renewed positive catalysts.
Despite the bearish conditions, some market analysts believe XRP could be nearing a significant breakthrough.
Analyst CasiTrades said XRP continues to face repeated rejection below a key consolidation range that has capped price action for months, with $1.65 acting as major resistance.
Referencing the Elliot wave pattern, she emphasized $1.10 and $0.87 as key macro support zones if weakness continues, adding that any drop into these levels could set the stage for a strong, potentially “violent” rebound to just over $2.
“The Clock Is Ticking for XRP…I expect the recovery after macro support test to be violent. The first real sign of that shift will be XRP reclaiming $1.65 and turning it into support,” she noted.
Elsewhere, analyst Crypto Patel pointed to a long-term 2-week timeframe bullish accumulation zones, noting that investors are already positioning between $1.00–$1.20, with deeper buy zones at $0.85–$0.70 and $0.65–$0.50. He described current conditions as a long-term accumulation phase with targets stretching toward $3, $7, and $10.
Moreover, “Crypto Insight UK” suggested that while Elliott Wave interpretations remain flexible, broader structural patterns still support a long-term bullish thesis.
He noted that he may begin scaling out of positions in the $8–$12 range, depending on market conditions, while acknowledging uncertainty in wave timing and structure.
At press time, XRP was trading at $1.29, reflecting a 2.76% decrease in the past 24 hours.
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