XRP fell to about $1.42 on Oct. 7, down 4.77% in 24 hours, wiping more than $4.4 billion from its market value, which stood at roughly $90.3 billion. The move came as the U.S. 30-year Treasury yield climbed to 5.72%, its highest level in 24 years, while a wave of long liquidations added to selling pressure. U.S. spot XRP ETFs, however, recorded $3.14 million in inflows the previous day, leaving fund flows and short-term price action out of step.
Higher Treasury yields coincide with a jump in XRP volume
XRP’s 24-hour trading volume rose nearly 77% by Oct. 7 to about $3.1 billion. The increase accompanied the price decline, pointing to a sharp rise in trading activity, though volume alone does not indicate which way the market may move next.
The 30-year Treasury yield reached 5.72%, its highest reading in 24 years. Rising yields put pressure on demand for risk assets, including cryptocurrencies, and formed part of the macro backdrop to XRP’s decline.
Long liquidations far exceed short liquidations
The rapid drop triggered liquidations of long positions, adding to near-term selling pressure. Over the previous 24 hours, XRP long liquidations totaled $19.14 million, compared with $518,360 in short liquidations.
XRP open interest stood at about $7.5 billion, while 24-hour derivatives trading volume was approximately $18.08 billion. Open interest measures outstanding futures positions. During a sharp price move, forced closures can amplify volatility, but these figures do not by themselves indicate the market’s next direction.
ETF inflows continue as XRP holds a 30-day gain
Despite the decline, U.S. spot XRP ETFs recorded $3.14 million in inflows on Oct. 6. The inflows did not prevent the following day’s drop and, on their own, do not establish a sustained change in institutional demand.
Over the past 30 days, XRP remained up 2.43%. The article also noted that after the decline, the price retested a breakout level from June 2026. Short-term price action, derivatives liquidations and ETF flows are sending different signals, while investors are watching whether the technical level holds and whether higher Treasury yields continue to weigh on risk-asset demand.