XRP Drops 7% on $437M Sell Spike — Short-Term Weakness Likely

I see XRP tumbling about 7% after a concentrated $437M sell spike that coincided with roughly $1B in liquidations across the crypto market. The move looks driven by forced selling and margin liquidations rather than a clean fundamental shift.

Given the scale of the liquidations, I expect elevated volatility and further short-term downside as positions unwind and stop-loss cascades remain possible. Key short-term levels and open interest will determine whether this is capitulation or just a pause.

I'm trimming exposure and avoiding fresh long entries until I see clear stabilization in volume and open interest — I’ll consider re-entry only after volatility subsides and support holds.