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Ripple’s XRP price just pulled off one of the most dramatic moves we’ve seen in weeks, and it happened in the blink of an eye. 

In a wild 15-minute window, the price dropped over 7%, triggering a chain reaction across the crypto market. 

In total, more than $420 million in leveraged positions were liquidated in less than half an hour. Traders barely had time to react before the move was over.

According to trader CasiTrades, XRP price fell sharply from the $3.21 support level straight to $3.00, slicing through price levels like butter. But instead of continuing to collapse, it did something that caught a lot of people off guard, it bounced right back. 

Within minutes, XRP price reclaimed the crucial $3.11 golden retracement level, a sign that this could have been a deliberate liquidity grab rather than the start of a real breakdown.

When you take a step back and look at the bigger chart, the move tells a very different story. XRP price still respected major Fibonacci retracement levels. \

The drop stopped exactly at the .382 retrace around $3.00, and the macro .5 retracement at $2.76, the correction low hasn’t been touched. 

This means the overall bullish structure that’s been building for months is still intact. In other words, the foundation for higher prices hasn’t been damaged.

So, what caused the chaos? Fundamentally, not much. Some traders pointed fingers at the latest U.S. inflation numbers. 

Others mentioned recycled headlines about the U.S. government not adding Bitcoin to its reserves. But CasiTrades believes this was classic market manipulation, a calculated sweep to trigger stop losses and shake out overleveraged longs. 

Read Also: Why Chainlink (LINK) Might Outshine Every Other Altcoin This Cycle

Judging by how quickly the XRP price snapped back, it seems shorts may now be trapped in losing positions.

Looking forward, the $3.11 level is the key to watch. If XRP price can hold above it, we could see fresh momentum build in the coming sessions. 

The nearer resistance is still $3.21, then $3.41 and $3.66. The long-term target for a bull, via Fibonacci extensions, is still about $4.70, and nothing within this drop changes that forecast.

The lesson here? Volatility like this can be scary in the moment, but in crypto, shakeouts often clear the way for bigger moves. XRP price may have just set the stage for its next major push higher.

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The post XRP Price Recovers After Brutal 7% Crash – Here’s Why the Bigger Picture Still Looks Bullish appeared first on CaptainAltcoin.

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