XRP Price Corrects Amid $14.2M Liquidations
The XRP price saw a significant correction this week, with open interest falling by 14% to $478 million. This decline was preceded by a wave of liquidations worth $14.2 million, affecting both long and short positions.
Funding rates also decreased, slipping to -0.002 after a 14-session streak of positive funding. Despite the shakeout, exchange supply remained steady, with Binance reserves holding near 2.6176 billion XRP.
The XRP Ledger saw continued growth, with recorded asset value rising from $99 million in Q1 2025 to $4.26 billion in Q2 2026. The number of RLUSD stablecoin transfers increased by 925% year-over-year, alongside more holders and trust-line openings.
Crypto analyst Dark Defender pointed out that XRP's chart is repeating patterns seen before the 2014 and 2017 rallies. He identified a potential target near $18.23, which would mark a roughly 1201% increase from current prices.