XRP Squeezed Near $1.25 Support As Derivatives Data Signals Local Bottom
Key Summary
XRP slid 19.0% through October to trade near $1.2505 Tuesday as derivatives data tracked by CoinGlass revealed $37.6M in liquidated long positions across CEX platforms.
Key Bullets
- XRP dropped 19.0% through October as the wider market absorbed fallout from the $6.30B Binance exchange exploit.
- CoinGlass derivatives data confirms $37.6M in long positions were forcibly closed across spot exchanges over the month.
- TradingView metrics show the daily RSI oscillator has dropped to 36.85, entering historical oversold reversal zones.
- US XRP ETF assets corrected to $1.42B as institutional inflows froze following the recent Ripple Swell conference.
Derivatives Wipeout Clears Overleveraged Positions
XRP slid 19.0% through October to trade near $1.2505 Tuesday as derivatives data tracked by CoinGlass revealed $37.6M in liquidated long positions across CEX order books. The broader digital asset market absorbed heavy selling pressure following the $6.30B Binance exchange exploit. Traders forced out of leveraged longs left spot order books thinned out near current valuations.
CoinGlass order-book depth monitors indicate the next cluster of long liquidations sits directly at $1.2292, carrying a 54.0% probability of a test over the next 24 hours. Overhead resistance hardens near $1.4292 where short sellers maintain active sell walls. Liquidity vanished rapidly after the recent drop.
Technical Indicators Flash Oversold Weekly Signals
TradingView market feeds confirm XRP currently trades directly on the 200-week moving average bounded between $1.25 and $1.28. This specific moving average boundary served as the launchpad for the August vertical price expansion. Daily RSI oscillator readings printed at 36.85 Tuesday afternoon.
Previous tests of this exact oscillator band preceded sustained upward trend reversals on the daily timeframe. Buyers stepped in aggressively to absorb the initial dump originating from exchange panic. The daily moving average threshold sits strictly at $1.3145 for confirmation.
Institutional Flows Freeze Amid Product Shifts
Filings with U.S. ETF custodians show aggregate XRP fund assets contracted to $1.42B following the token price decline. Net daily inflows dropped to absolute zero as market participants digested product announcements from the Ripple Swell conference. The rollout of the RLUSD stablecoin absorbs direct institutional custody demand previously directed straight to the native token on Coinbase and Robinhood.
A breakdown below the strict $1.20 floor exposes immediate downside risk toward the August swing lows between $0.98 and $1.00. Order books remain heavily guarded by spot buyers defending the lower boundary. Volume dried up completely.
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