XRP drops nearly 70% from 2025 peak as whales and ETFs absorb capitulation supply

XRP has fallen about 70% from its 2025 high of $3.65 to nearly $1.10, with realized losses recently spiking to roughly $908 million in the largest capitulation event since 2022. Large wallets and spot ETFs have been absorbing distressed supply as exchange reserves fall to five‑year lows and 30‑day volatility compresses, pointing to a maturing but still fragile market structure. While a past $1.93 billion loss event preceded a 114% rebound, changing liquidity conditions and institutional participation may alter the speed and scale of any recovery in the current cycle.