XRP tumbled to a fresh year-to-date low of $1.188 on Wednesday, caught in a broad crypto sell-off that also pushed Bitcoin to its cheapest level since early February. The token has now shed nearly 34% of its value in 2026, and the pain extended to leveraged traders who absorbed a $14 million liquidation wave.
What dragged XRP down
The drop wasn't isolated. Bitcoin's slide below key support levels rattled the entire market, pulling altcoins lower with it. XRP briefly stabilized just under $1.22 after the initial plunge, but the recovery was thin. Volume was heavy, and order books showed sell orders stacking up across major exchanges.
The liquidation toll
Data from derivatives platforms shows that long positions bore the brunt of the $14 million wipeout. The majority of the liquidations hit traders who had bet on a rebound after XRP's previous lows. It's the kind of flush that can reset leverage quickly, but it also leaves scars — some traders are sitting on the sidelines now.
Where XRP stands
At $1.188, XRP is trading at levels not seen since late last year. The year-to-date loss of 34% puts it among the worst-performing large-cap tokens in 2026. The next few sessions will be telling: if Bitcoin can hold its ground, XRP might find a floor. If not, the selling could extend. For now, traders are watching for any catalyst — regulatory news, a broader market turn, or just a quiet day without liquidations.
