Key Notes
XRP crashed to $2.20 before rebounding to $2.35 at press time.
$1.9 billion in Open Interest was wiped out across exchanges in just 12 days.
A falling wedge pattern hints at possible recovery, with resistance near $2.50.
XRP currently trades at $2.35, up over 6% in the last 24 hours, after an extremely volatile week that saw the asset plunge from $2.50 to $2.20. Despite the rebound, XRP remains down 25% over the past month and trades nearly 39% below its all-time high of $3.84.
According to data from CryptoQuant, the recent move represents a full-scale market reset, as speculative positions were purged across the board. Between October 6 and October 18, total Open Interest (OI) in XRP futures crashed 65.5%, falling from $2.9 billion to just $1 billion.
$1.9B in Liquidations
This represents a massive $1.9 billion in liquidations and capital outflow from the derivatives market. Meanwhile, Binance, the largest venue for XRP futures, bore the largest chunk of the wipeout as its OI plunged from $1.32 billion to $480 million.
On the other hand, momentum indicators are neutral with RSI at 44.48, indicating mild recovery potential. The MACD is flattening near zero, and CMF (+0.04) hints at slow capital inflow after heavy outflows.
CryptoQuant analysts call this a “market full reset,” indicating that the market now stands at a healthier baseline. Despite being at a major crossroads, XRP remains one of the best crypto to buy in 2025, gaining more than 300% in the past year.
