XRP Long Liquidations Hit Five-Month Highs Amid Falling Open Interest

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Surge in Long Liquidations: On June 25, XRP saw nearly $9 million in long liquidations, marking the largest event since February, indicating that traders were forced to exit bullish positions as prices fell, reflecting a significant loss of market confidence.
Decline in Open Interest: XRP open interest on Binance dropped to approximately $205 million, the lowest since March 22, while Bybit's fell to around $185 million, highlighting a marked decrease in speculative participation due to recent market weakness.
Historical Trends as Warning: Analyst EGRAG CRYPTO noted that XRP has historically averaged a 29.3% decline in June during U.S. midterm election years, suggesting potential prices could drop to $0.94 or even $0.81 if past trends repeat, indicating traders' cautious outlook on future price movements.
Cautious Market Sentiment: Although XRP has modestly recovered from its weekly lows, the derivatives market remains subdued, reflecting traders' concerns about the market outlook, particularly following significant liquidations and declining open interest.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.827	0.918	1.01	1.101	1.193	1.284	1.377
Fibonacci	0.918	0.988	1.031	1.101	1.171	1.214	1.284

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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