Key Insights:
- XRP price faces heavy long liquidations as high-leverage retail positions are cleared during the latest market decline.
- XRP price needs to reclaim $1.65, which EGRAG CRYPTO sees as a key level for a possible market shift.
- Ripple news remains focused on market data as XRP open interest returns to pre-dump levels.
XRP price is under pressure after a sharp market decline forced many leveraged long positions out of the market. At the same time, short positions have not grown, while open interest has returned to levels seen before the dump. Attention is now on whether bulls can recover the key $1.65 level again.
However, the targets and price levels discussed are based on technical analysis and represent potential scenarios rather than guaranteed outcomes. Cryptocurrency prices are highly volatile and may move substantially in either direction.
This article is not intended as financial advice, and readers should conduct independent research and seek professional guidance if needed before investing.
Heavy Long Liquidations Put XRP Price Under Pressure
The XRP price decline has been marked by a large wave of long liquidations, according to market commentary shared by CW. Instead, many retail traders holding high-leverage long positions were forced out as the market moved lower.
The updates point to position clearing as the main feature of the move, rather than fresh short pressure. Short positions have actually been decreasing, rather than increasing. In simple terms, the decline was driven largely by leveraged longs being closed out, not by a sudden build-up of bearish bets.
CW also warned that traders need to be careful with high-leverage positions. A sharp move can quickly put pressure on positions that are built on borrowed exposure. Even when the wider market remains bullish, a decline of this size can still happen and remove traders who have taken on too much leverage.
For XRP holders watching the XRP price, the liquidation event is therefore an important part of the current picture. It shows how quickly a market move can affect leveraged traders without necessarily meaning that sellers have taken full control of the market.
$1.65 Becomes The Key Level For XRP Price
Attention is now turning to the $1.65 level. Crypto analyst EGRAG CRYPTO described the price as a battleground for XRP. On the way down, $1.65 was identified as an important target. Now, the level has taken on a different role as the market tries to recover.
According to the analyst, XRP needs to reclaim and hold $1.65 for the market structure to start changing. That makes the level one of the main areas to watch as traders assess whether the recent decline is losing strength.
The reaction around $1.65 could give traders a simple signal. If XRP moves back above the level and stays there, confidence in a recovery could improve. If the price fails to regain it, the area could continue to act as a barrier during any attempted rebound.
Per current Ripple news, there is no claim in the shared updates that XRP has already reclaimed the level. The focus remains on whether bulls can push the XRP price back above it and keep it there.
Open Interest Returns To Pre-Dump Levels
Another detail has emerged from market data. Maartunn reported that XRP open interest has returned to its pre-dump levels. As per CoinGlass data, the overall Ripple Coin Open Interest was around $3.7 billion.
Open interest tracks the total value of outstanding derivatives positions, so the change gives another view of what happened during the recent move.
Placed alongside the liquidation data, the update suggests that the market has gone through a major reset in leveraged positions. Many long positions were cleared during the decline, while open interest has now moved back toward the level seen before the dump.
That does not by itself confirm the next direction for XRP price. Instead, it shows that traders are entering the next stage after a period of heavy position clearing. The $1.65 level is therefore likely to remain important for market watchers looking for signs of a recovery.
Based on available Ripple news and analysis, the main focus remains on liquidations, open interest, and whether XRP can reclaim $1.65. Those factors will shape the near-term price discussion as traders watch the market closely.
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