XRP fell 8.18% over 24 hours after a rally to $1.65 on September 23 reversed sharply, pushing the price to $1.45 early Thursday. The move produced $31.48 million in XRP liquidations, including $29.54 million in long positions and $1.94 million in shorts, creating a 1,522% imbalance. Across the broader crypto market, $610 million in positions were liquidated over the same period. XRP had climbed from $1.24 on September 16, closing higher on six of the following eight days, alongside its first daily-chart golden cross (a bullish moving-average crossover) this year. The wider selloff followed profit-taking after a strong weekly rally and came as Treasury yields reached multi-decade highs. Traders priced in a more-than-75% chance of another Federal Open Market Committee rate increase at its October meeting, while New York Federal Reserve President John Williams said in London on Thursday that another hike by year-end would be "reasonable." Santiment said XRP's 365-day MVRV (market value compared with realized value) was around -11.75%, indicating that long-term holders remained underwater. Historically, lower MVRV can reduce immediate selling pressure because fewer holders are sitting on profits, leaving recovery dependent on continued demand improvement.