XRP slipped below the $1.30 mark on July 23, 2026, trading at $1.29, down 0.96%. The breakdown of a support level that held for a week triggered a wave of forced liquidations. Open interest fell 8.49% to $2.15 billion while trading volume rose 11.49% to $5.07 billion, confirming forced positioning rather than gradual profit-taking.
Longs Take the Brunt, Options Volume Explodes
Total liquidations reached $12.76 million, with long positions accounting for $11.85 million (92.9% of the total). Binance data shows a long-to-short ratio of 2.24 for all accounts and 2.46 among top traders, indicating leveraged bullish bias remains despite the flush. Options activity surged: options volume jumped nearly 420% to $8.82 million, and open interest rose 17.01% to $42 million, signaling fresh hedging and speculative trades amid heightened uncertainty.
ETF Flows Diverge: XRP Bucks the Trend
Spot XRP ETFs recorded $2.21 million in net inflows on February 27, per SoSoValue. By contrast, Bitcoin ETFs saw $27.55 million in outflows and Ethereum ETFs lost $43 million. XRP stood out as institutions added exposure even as derivatives markets showed weakness.
Technical Support Breached, Next Levels in Focus
On the two-hour chart, XRP broke below an ascending trendline that had supported price since February lows near $1.15. The Supertrend indicator turned bearish at $1.35, and the Parabolic SAR aligned at the same resistance level. Price now tests support near $1.28. A sustained break below exposes the $1.20 to $1.15 demand zone, which previously fueled a recovery.
XRPL Labs Patches Critical Batch Amendment Bug
On February 27, XRPL Labs disclosed a critical vulnerability in the pending Batch amendment. A loop error in batch signature validation logic could have enabled unauthorized fund transfers across network accounts. Validators rejected the amendment before mainnet activation. Developers released rippled 3.1.1 to block the vulnerability and introduced a revised BatchV1_1 version for further review.