Highest Dropers: XRP Shoehorned Down Nearly 10%, Other Alts Adjust Too

While Bitcoin edges down just 1% from its recent $117,810 peak, the broader altcoin sector faces cooling. XRP leads the list, down 9.2% day-over-day, currently trading at $3.22 despite an 8% weekly gain. Solana (up ~7% day-over-day to $188) and Dogecoin (down ~9% to $0.241) add to the recent-past winners’ long list of recent-day losers.

Volatility Driven by Overextended Positions

The apparent pause in enthusiasm follows a blistering rally in July. XRP achieved a seven-year high, Ethereum and Solana touched six-month peaks, BNB hit record $808, and a broad-alto-coin derivative called open interest gave an all-time high exceeding $45 billion.

Following these substantial gains, a rush of liquidated positions—nearly $605 million total in the last day—has dominated market activity. Ethereum led liquidations at around $104 million, followed by XRP ($63.4 million) and Bitcoin ($62.5 million).

Market observers connect the dip to a surge in speculative positioning, suggesting frothiness that exacerbates volatility. The rapid post-surge pullback represents an expected “correction,” but perhaps more than a simple profit-taking reversal.

Professionals Differ on Altseason Longevity

Despite the recent dip, crypto market participants show optimism persists. Proprietary data provider Myriad (Decrypt’s parent company Dastan) projects a slim chance (20%) for Ethereum to breach the $4,000 barrier by July 25, conceding market momentum might have subsided for now.

Two distinct narratives are emerging: one viewing the pullback as a healthy correction after sustained advance, offset by concerns about froth, while others point to external factors. CEO of blockchain firm Douro Labs Mike Cahill cites post-Bitcoin ATH profit-taking and broader market uncertainties (US-China trade talks, Fed policy shifts) for the dip.

Looking forward, Cahill anticipates “a small dip,” predicting the crypto bull market will continue strongly “at the very least through the end of 2025.”