TLDR
- XRP fell nearly 5% to around $1.42, losing the $1.50 support level.
- Market capitalization dropped over $4.4 billion to about $90.3 billion.
- US spot XRP ETFs saw $3.14 million in inflows despite the price drop.
- A long squeeze triggered $19.14 million in liquidated long positions.
- Ripple’s XRPL upgrades and Evernorth’s Nasdaq debut were delayed after validator support fell short.
XRP price fell nearly 5% over the past 24 hours on October 7, 2026. The token traded around $1.42, down from levels near $1.50 earlier in the week.
Trading volume jumped close to 77% to reach $3.1 billion in the same period. Market capitalization lost more than $4.4 billion, falling to roughly $90.3 billion.
The drop came as the US 30-year Treasury yield climbed to a 24-year high of 5.72%. Higher yields tend to pull investor money away from riskier assets like crypto.
A long squeeze added further pressure on the price. This happens when a quick price decline forces traders holding long positions to sell.
CoinMarketCap data showed $19.14 million in XRP long positions liquidated over the day. Short liquidations were much smaller, at $518,360.
Open interest, the total value of unsettled futures contracts, stood at $7.5 billion. The 24-hour derivatives trading volume reached $18.08 billion.
ETF Inflows Continue Despite the Dip
Spot XRP ETFs in the US recorded $3.14 million in inflows on October 6. This came one day before the price decline.
JUST IN: Bitwise ETF clients buy $10.55 million worth of $XRP. pic.twitter.com/ADzhYLDYSi
— Whale Insider (@WhaleInsider) October 7, 2026
Institutional demand for XRP appears steady even as the price slips. Trading volume and ETF activity both point to continued interest from larger investors.
Analyst ChartNerdTA flagged a key technical level traders are now watching. The daily 20 EMA has acted as both support and resistance in past moves, and the question is whether it repeats that role this time around with $XRP.
This will be interesting.. $XRP pic.twitter.com/A0xn3hCAXx
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) October 7, 2026
Despite the daily decline, XRP has gained 2.43% over the past 30 days. The price also retested its June 2026 breakout level after this week’s slump.
Token Unlock and Delayed Upgrades Add Pressure
Ripple released 1 billion XRP on October 1, worth about $1.49 billion at the time. The added supply may have added to recent selling.
The XRP Ledger’s planned October upgrades were delayed. Validator support fell below the threshold needed for activation, restarting the countdown.
Ripple’s Evernorth Nasdaq debut was also pushed back for the same reason. Both delays landed close to the token unlock.
Price watchers are focused on the $1.46 to $1.48 support band. A break below that zone could send XRP toward $1.40, then $1.38 and $1.33.
On the upside, resistance begins near $1.52, with $1.54 to $1.56 marking a stronger reclaim zone. XRP remains above its 50-day, 100-day, and 200-day exponential moving averages, near $1.40, $1.33, and $1.38.
