XRP slips to $2.12 after liquidations clear both sides of the futures book

Core Viewpoint - XRP's price is currently experiencing consolidation between $2.07 and $2.17 following a two-sided liquidation event on Binance Futures, indicating market uncertainty and a search for direction [1][3][5]. Market Dynamics - XRP fell 2.3% over a 24-hour period, from $2.17 to $2.12, as traders reacted to a liquidation reset that left the price trapped within a defined range [3][4]. - The liquidation event involved approximately $4.4 million in short liquidations on January 5, followed by about $5.5 million in long liquidations the next day, reflecting a symmetrical leverage reset [4][5]. Technical Analysis - The $2.07–$2.08 demand pocket was defended, with a significant volume spike of 154.85 million XRP on January 8, indicating strong buying interest at lower price levels [6]. - A V-shaped rebound occurred, pushing XRP from $2.09 to $2.16, but upward movements faced resistance near $2.17, confirming supply overhead [6][7]. Institutional Interest - XRP continues to attract institutional interest, highlighted by Evernorth's strategic collaboration with Doppler Finance to explore liquidity and treasury use cases on the XRP Ledger [8]. - This initiative is in an exploratory phase, focusing on structured liquidity deployment and treasury management, amidst a market that is currently driven more by derivatives than fundamentals [8].