XRP Falls Toward $1.14 After $25.6M in Long Liquidations
XRP slid toward $1.14 on June 3 after $25.64 million in long liquidations erased positions; more than 5,800 traders were liquidated as selling intensified.
XRP slid toward $1.14 on June 3 after $25.64 million in long liquidations erased positions. At 10:09 p.m. local exchange time the token traded near $1.157, down about 5.2% over 24 hours with a daily high of $1.24726 and a low of $1.14092.
The token fell from the mid-$1.30s in late May and formed a series of lower highs and lower lows, breaking several short-term support levels while trading volume increased.
Derivatives data showed $25.64 million in XRP liquidations over the past 24 hours. Long positions accounted for $24.71 million, roughly 96.37% of the total, while short liquidations were about $929,583. More than 5,800 traders were liquidated and XRP volatility exceeded 8.84%. The largest single wiped-out position was about $1.23 million, with the most intense liquidation activity recorded between 21:00 and 22:00 local exchange time.
The XRP liquidations occurred during a broader crypto deleveraging that erased more than $1.12 billion in positions across digital assets, including about $949 million in long bets. Bitcoin slipped below $63,000 and tested the low-$62,000 range during the same period.
Technical indicators showed weak near-term momentum. The Relative Strength Index stood at 26.73, placing XRP in oversold territory. The Moving Average Convergence Divergence remained negative, with the MACD line at -0.01633, the signal line at -0.01092 and the histogram at -0.00541. XRP traded below its 50-period simple moving average at about $1.23089 and its 200-period simple moving average at roughly $1.29842. Bollinger Bands placed the lower band near $1.16628, the middle band around $1.21476 and the upper band near $1.26323, with price trading beneath the lower band.
Short-term rebounds occurred during the sell-off but failed to sustain upward momentum, and trading activity rose as positions were forced to close.
Ripple marked XRP’s 14th anniversary during the period. Ripple CEO Brad Garlinghouse described participation in the network as ‘the honor of a lifetime.’ The firm pointed to institutional interest in XRP and cited the launch of 24/7 crypto futures on the CME as an expansion of market access for professional traders.
Market participants monitored whether buyers could defend recent levels after multiple waves of selling.
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