XRP extended its decline on October 8, falling to around $1.41 after failing to move above the $1.50 resistance zone that traders had been watching for a potential breakout.
According to CoinGecko data, XRP was trading at 8:03 UTC on Thursday, down 4.2% over the previous 24 hours. The token traded between roughly $1.40 and $1.47 during the period, keeping it below the $1.44 level that had emerged as an important downside area.
The decline also coincided with increased leveraged liquidations, with traders holding long positions accounting for most of the losses.
XRP Liquidations Reach $14.69M
According to CoinGlass data, XRP recorded $14.69 million in liquidations over the past 24 hours. Long positions accounted for $14.24 million, or 96.95%, while short positions represented about $448,669, or 3.05%.
CoinGlass reported that XRP price volatility exceeded 5.95% during the period, with 2,574 traders liquidated worldwide. The largest single liquidation was valued at about $387,304, while total liquidations were 1.97 times the seven-day average.
Binance recorded the largest share of XRP liquidations at about $6.77 million, or 46.11% of the total. Bybit followed with approximately $3.18 million, representing 21.65%, while Hyperliquid recorded about $2.22 million, or 15.14%. OKX accounted for roughly $1.04 million, while Bitget recorded about $493,570.
The liquidation figures indicate that leveraged traders positioned for higher XRP prices accounted for most of the forced closures during the pullback.
XRP ETF Inflows Remain Positive Over Longer Period
Despite the recent price decline, XRP spot ETFs continue to show positive cumulative inflows. According to the ETF data from SoSoValue, cumulative net inflows stood at approximately $1.79 billion as of October 7. Total net assets were about $1.61 billion, while total value traded reached $39.51 million.
Bitwise’s XRP ETF had the biggest net assets at about $598.02 million, with Franklin Templeton’s XRPZ at $417.34 million and Canary’s XRPC at $349.50 million following.
However, the recent daily flows have been a hodgepodge. XRP ETFs saw no net inflows on October 7, after experiencing net inflows of $3.14 million on October 6 and net outflows of $3.28 million on October 2.
The cumulative figures indicate that XRP spot ETFs have attracted substantial net capital since launch, although the latest daily readings do not show a consistently positive flow trend.
Paxos Adds XRP Trading and Custody
The institutional infrastructure surrounding XRP also expanded this week.
In a post on X, Paxos said its Crypto Brokerage platform now supports XRP trading and custody, allowing partners using its infrastructure to offer the asset through the platform.
Paxos said XRP has been in circulation since 2012 and is held across more than 8.1 million wallets, with a market capitalization of nearly $95 billion.
Analyst’s $1.44 Level Comes Into Focus
The latest move also lines up with a downside level highlighted by crypto analyst Diana a day earlier.
Diana said on October 7 that XRP was stuck in a narrow four-hour range around 1.50-1.503 after being rejected near $1.60. She said lower highs were putting pressure on the price and identified $1.61 as the key level for a possible move toward 1.64-1.70.
At the same time, Diana warned that a break lower could push XRP toward $1.44. XRP has since moved that level below, with the token falling to around $1.41 on October 8.
The immediate focus is now whether XRP can recover $1.44 or whether continued selling pushes the price further below $1.40. The heavy concentration of long liquidations suggests leveraged traders remain a key source of short-term volatility.
Also Read: Why Is XRP Price Going Down Today?
