XRP Falls to $1.02 as Investors Capitulate at Fastest Pace Since 2022
In brief
- XRP fell to $1.02 Friday, weakest price since February 2022
- $9 million in long liquidations hit Wednesday, largest daily loss since Feb. 5
- XRP open interest fell to $2.34 billion; futures turnover dropped 90% year-over-year
- XRP's 90-day profit-to-loss ratio hit 0.33, weakest since August 2022
Liquidations accelerate
XRP dropped toward $1.07 on Wednesday, triggering about $9 million in long liquidations. It was the largest daily loss for leveraged bullish traders since Feb. 5.
Binance accounted for roughly half of the total, with about $4.5 million in XRP long positions closed on the exchange. Open interest on Binance fell to approximately $205 million, its lowest level since March 22. XRP open interest on Bybit declined to about $185 million, returning close to levels last seen on June 6.
Across the market, the picture is even grimmer.
Derivatives collapse
Across tracked exchanges, total XRP open interest has fallen to about $2.34 billion. Futures turnover has weakened even more sharply, dropping to roughly $2.84 billion from more than $30 billion during the comparable period last year. That represents a decline of more than 90% in trading volume.
The data tells a story of capitulation. XRP's 90-day moving average profit-to-loss ratio has fallen to 0.33, the weakest reading since August 2022. A growing proportion of XRP investors are moving their tokens below their acquisition prices. Investors who once held for recovery are now selling at losses.
Leveraged positions are disappearing, derivatives activity has contracted. That contraction, paradoxically, may provide some relief. The reduction could make XRP less vulnerable to large chains of forced liquidations. With fewer leveraged bets in the system, the next price move—up or down—will face less mechanical selling pressure from margin calls.
