The post XRP Reset: Billions in OI Wiped Out as Prices Touch $2.20 appeared on BitcoinEthereumNews.com.

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. XRP OI across all exchanges | Source: CryptoQuant Interestingly, analysts at CryptoQuant describe the move as a long squeeze cascade, where the initial price drop triggered forced liquidations of overleveraged long positions, compounding sell pressure and driving the market lower in a feedback loop. XRP Price Forecast: Chart Analysis The 4-hour XRP chart reveals a falling wedge pattern, typically a bullish reversal formation. After testing the lower trendline near $2.20, XRP has begun to consolidate toward the upper boundary of the wedge, currently hovering around $2.35. Immediate resistance lies at $2.50, a breakout above which could open the path toward $2.75 and $3.10. Meanwhile, support levels remain at $2.10 and $1.90; a breakdown below could reignite bearish momentum toward $1.70. XRP price action with momentum indicators…

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Filed under: News - @ October 18, 2025 11:23 am