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 Liquidatio

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