XRP price slides 14% after $250M in long liquidations – Bull trap ahead?

Is the market crossing the threshold from cautious optimism to outright euphoria?

Technically, this week was the most bullish since the Q3 2025 cycle began. XRP is arguably the best asset in this regard, rising over 46% this week and forming a long upper shadow at 1.70, its highest price in more than seven months. XRP was also the best-performing large-cap asset on a weekly basis.

Nevertheless, the past 24 hours could teach optimists a lesson about the market environment. As the chart below shows, XRP closed the day at $1.46, marking a sharp 14% pullback from the $1.70 local top. Furthermore, if we consider all large-cap assets, including Bitcoin [BTC] and Ethereum [ETH], the flash crash most affected XRP. This is the most evident sign that the asset’s bullish trend could soon reverse.

The outcome? A cascading bloodbath.

According to data from CoinGlass, more than $250 million in long positions were liquidated, accounting for over 72% of all liquidations, and those traders who expected the price to continue to rise have suffered significantly. Interestingly, the market seems to have shrugged off the turmoil, with analysts believing that the price will head to $2 by the end of the third quarter of this year.