XRP Slumps on $12M Long Liquidation Wave While Hyperliquid Balance Sheet Discloses $620M Net Income
Key Summary
XRP shed value on Tuesday following $12.0M in long liquidations and the activation of the fixCleanup3_4_0 amendment on the XRP Ledger. Hyperliquid dropped 9.0% below the $80.00 mark despite reporting $620.00M in quarterly net income and filing for a U.S. futures commission merchant license. Stellar fell to $0.157 amid lingering bearish momentum from an October death cross and upcoming Protocol 30 mainnet votes.
Key Bullets
- XRP recorded over $12.0M in long liquidations on November 5 as prices slipped near the $1.20 mark following the fixCleanup3_4_0 ledger amendment.
- Hyperliquid Strategies disclosed $620.00M in quarterly net income alongside an application to register as a U.S. futures commission merchant.
- Stellar dropped to $0.157 while trading volumes remained neutral following a bearish death cross pattern at the end of October.
- The XRP Ledger activated network updates on November 4 to patch an exploit that previously allowed token minting by burning accounts.
XRP Liquidation Wave Hits $12M
XRP slid below the $1.20 threshold on Tuesday morning after derivative traders absorbed over $12.0M in long liquidations across spot and perpetual venues. According to network snapshot data published on November 5, buying momentum failed to hold incoming volume spikes near the 21 EMA line.
The XRP Ledger activated the fixCleanup3_4_0 amendment on November 4 at 14:52 UTC. On-chain transaction records confirm the update removed an exploit vector that previously allowed accounts authorized to burn issuer tokens to mint them. Unidentified exploits were avoided as the native asset supply remained untouched.
Technical charts show an extended downward trend. Volume dried out heading into the weekend session. Order books indicate minimal structural support below current trading tiers.
Hyperliquid Reports Earnings and SEC Filings
Hyperliquid fell nearly 9.0% on November 5, trading below $80.00 while breaching the 100 EMA moving average line. Fundamental corporate filings submitted by Hyperliquid Strategies reveal an application to register as a U.S. futures commission merchant. Approval would grant U.S. retail and institutional clients direct access to native perpetual contracts.
Financial disclosures from the protocol outline $620.00M in quarterly net income. This total includes $803.00M in unrealized HYPE token gains. Separate agreements with ICE-Trade filed on October 29 are accessible via regulatory databases.
Momentum indicators placed the RSI near the 40.00 threshold during the session. The 200 EMA line near $68.00 serves as the primary downside price floor.
Stellar Prepares for Protocol 30
Stellar declined toward $0.157 while trading volumes remained subdued following an October death cross confirmation. Exchange order books registered 500,000 XLM in long liquidations during the session. Large asset reserves on spot platforms absorbed the forced selling without major structural disruptions.
Network validators scheduled the Bell Protocol 30 mainnet vote for November 23 at 17:00 UTC. Testnet deployments launched on November 3 introduced post-quantum signature verification for smart contracts alongside millisecond ledger timestamps. Moving averages continue to display bearish acceleration patterns across daily timeframes.
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