XRP Falls to $1.20 on 14th Anniversary as Market Cap Dips Below $75 Billion
XRP traded near $1.20 on Thursday, its lowest level since early February, after a broader market selloff pushed it through support. Market capitalization fell below $75 billion, and about $30 million in leveraged positions were liquidated, per CryptoPotato.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Price Breaks Support Near $1.20
XRP fell to around $1.20 during the session, a level CryptoPotato described as its lowest since an early February selloff that briefly took the token just above $1.10. According to CoinDesk, the token lost another major support level on heavy selling, and traders are now watching whether buyers can hold the $1.20 area after reaching a 15-week low. The two outlets are describing the same move, but they frame the timeline differently: CryptoPotato measures the low against the February dip, while CoinDesk measures it against a 15-week window.
CryptoPotato reported that the token has not closed below $1.30 since before the 2024 US presidential election, with the early February drop as the only brief exception. Price action in recent weeks has been defined by failed attempts to break higher. The most recent of these came in mid-May, when XRP reached $1.55 before selling pressure drove it back down.
Liquidations and Market Capitalization
CryptoPotato reported roughly $30 million in liquidations from leveraged traders tied to the decline. The same outlet said XRP's market capitalization stands below $75 billion as of its publication, down from more than $85 billion several days earlier. That drop was large enough for USDC to pass XRP on CoinGecko's ranking by market capitalization, placing the stablecoin fifth among cryptocurrencies by that metric.
CoinDesk's account emphasizes that the selling was heavy and that bullish technical signals had accumulated beforehand without holding the price. Neither outlet gave a single liquidation figure beyond the CryptoPotato estimate, so the $30 million number reflects one reporter's tally rather than a confirmed aggregate.
Technical Outlook and Anniversary Context
Analyst Ali Martinez, cited by CryptoPotato, said XRP broke down from a rising symmetrical triangle and projected a further decline toward roughly $1.14. That projection is one analyst's chart reading and has not been validated by the sources as a forecast.
CryptoPotato noted that the decline coincided with XRP's 14th anniversary. The token was created in 2012 when Ripple co-founder Arthur Britto released code that minted 100 billion XRP, a detail the outlet attributed to the launch date. Whether the anniversary has any bearing on price is not supported by either source; it is reported as context only.
The sources agree that the next test is whether buyers defend the $1.20 zone. Neither outlet reported a confirmed catalyst for the move beyond the broader market decline the articles describe.
Why It Matters
For Traders
XRP's ability to hold the $1.20 area is the immediate level to watch, since a failed defense could extend the decline toward the $1.10 region seen in February.
For Investors
XRP has now been rejected repeatedly between $1.50 and $1.60, and a sustained move below $1.30 would mark a longer period of weakness than the recent pullbacks.
For Builders
XRP's market cap falling below USDC's on CoinGecko is a reminder that token valuation rankings can shift quickly and should not be hardcoded into product logic.
This article is for information only and is not financial advice. Read the full disclaimer.
