The cryptocurrency market declined sharply today, with global market capitalization dropping 6% to $3.92 trillion. Bitcoin maintained its position above $118,000 with a slight 0.7% decrease, while many altcoins suffered larger losses.
Altcoins such as Ethereum, XRP, Solana, Dogecoin, and Cardano all declined strongly by 6% to 10% over the past 24 hours. This decline was accompanied by large-scale liquidations in the market, raising speculation about a healthy correction before recovery.
- Global cryptocurrency market capitalization dropped 6% to $3.92 trillion, with Bitcoin remaining stable above $118,000.
- XRP declined 10% along with a $89 million liquidation wave, but is still considered a positive correction.
- Growing XRP application in corporate finance with notable strategic investments.
XRP Drops 10%, Market Witnesses $89 Million Liquidation
During Tuesday's selloff, Ethereum, XRP, and Bitcoin traders suffered significant losses, with Ether experiencing the heaviest liquidation at $159 million, followed by XRP at $89 million.
XRPunkie, a cryptocurrency analyst, believes the 10% XRP decline is just a necessary correction after the coin's 92% increase in just 20 days, from $1.95 to $3.66. He views this as a short-term "pause" preparing for the next price surge, with the $10-$15 price target still intact.
Shawnmark7899 (XRPunkie) – Analyst, 23/07/2025
XRPunkie also emphasized that the current minimum price for XRP is $8, with longer-term expectations of $20-$30 still anticipated in the near future.
Can XRP Surpass $3.84?
Experts assess that if the altcoin's momentum continues, XRP could potentially break its 2018 high of $3.84. The declining Bitcoin dominance is helping capital gradually shift towards altcoins, including XRP.
CryptoBull, a cryptocurrency market analyst, noted that XRP is forming a classic "Cup & Handle" pattern, a technical signal reflecting the next price increase trend, with the potential to push XRP beyond $7 based on the pattern's target.
CryptoBull – Cryptocurrency Analyst, 23/07/2025
XRP's primary momentum in the coming weeks will largely depend on the overall altcoin market developments and investment capital flow variations.
XRP Gains Broader Application Through Strategic Funding Decisions
XRP's deployment in corporate finance continues to increase as Nature's Miracle decides to add $20 million XRP to its treasury, expanding capital diversification amid the market correction.
Additionally, Brazilian company VERT has launched a $130 million blockchain platform on the XRP Ledger, demonstrating XRP's appeal for financial solutions and global infrastructure.
Frequently Asked Questions
Does XRP's Price Drop Signal a Negative Trend for Investors?
According to experts, the 10% XRP decline is a normal correction reflecting market regulation after the recent rapid increase. This could be an accumulation opportunity for long-term investors.
Will the $89 Million XRP Liquidation Have Long-Term Negative Effects?
Large liquidation figures only reflect short-term selling pressure. From a technical analysis perspective, such corrections typically help clean the market and create momentum for new upward trends.
Can XRP Overcome Its Historical Peak of $3.84?
Many technical analysts believe XRP is strong enough to conquer this threshold if altcoin cash flow continues to increase. The Cup & Handle pattern further reinforces this argument.
Why Are Companies Investing Significant XRP in Their Treasury?
This helps diversify assets on the balance sheet, minimize natural risks, and leverage XRP's long-term value growth potential in the global financial environment.
What Are the Prospects for XRP's Financial Application Trend?
Continuous increases in blockchain projects and corporate investments indicate XRP is highly valued as a payment and value storage tool, contributing to promoting practical applications.
