XRP Underperforms as Bitcoin Rally Sparks $387M in Liquidations
XRP continues to trade cautiously, holding support at $2.05 with resistance around $2.17, as traders await stronger volume to validate upward momentum. Despite modest gains, the token lagged the broader market while Bitcoin surged past $94,000, triggering widespread liquidations across derivatives.
Market Overview
Bitcoin’s sharp rally drove a rebound in major crypto assets, producing intense volatility among large-cap tokens. Over 107,000 traders were liquidated in 24 hours, totaling $387.5 million in forced exits—including a single $23.98 million BTC long on HTX.
XRP’s reaction was muted. The token underperformed the CD5 index by 1.55%, suggesting rotation away from XRP during the risk-on rally. Institutional participation remained subdued, with 24-hour trading volume 5.88% below the seven-day average, highlighting limited conviction behind the move.
Technical Outlook
XRP maintains an intraday bullish structure with higher highs and higher lows, but momentum remains uneven. Support at $2.05 has held firm, while resistance at $2.17 capped the recent rally. A breakout attempt around 15:00 faced strong volume rejection, pulling XRP back into the $2.15–$2.16 range.
The token’s relative underperformance amid Bitcoin-driven gains signals potential delayed upside or deeper consolidation if macro momentum fades. Broad participation will be key for bulls to regain control.
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