XRP derivatives markets registered $16.75 million in liquidations on Friday alone, approximately 2.74 times the weekly average. Long positions bore the brunt of the losses, accounting for $16.01 million, or 95.54% of the total, while short-position liquidations reached roughly $746,000.

Binance Leads XRP Liquidations With $8.06 Million

Binance recorded the largest share of XRP liquidations, with $8.06 million in leveraged positions forcibly closed during the market decline. More than 3,600 traders reportedly lost their positions as falling prices triggered margin-related closures across trading platforms. As one of the largest cryptocurrency exchanges by trading volume, Binance's liquidation tallies are widely tracked as a gauge of leveraged activity across the market.

The liquidation wave followed a failed recovery attempt on November 4. Traders had increased their bullish exposure during the rebound, but XRP subsequently reversed direction. As prices fell, exchanges automatically closed positions that no longer met margin requirements, adding further selling pressure to the market.

XRP Falls Below Key Moving Averages

XRP declined 6.41% during the reported period, reaching $1.1799 amid continued selling pressure. TradingView data showed the token trading below both its 50-period and 100-period exponential moving averages, indicating weakening price momentum. The 100-period exponential moving average stood near $1.271, a level that could act as resistance during any potential recovery.

The Relative Strength Index registered 33.21, reflecting weak buying momentum following the decline. On the indicator's conventional scale, readings below 30 are classified as oversold, placing the token just above that boundary. On the weekly timeframe, the candlestick formed a long upper wick, suggesting sellers had rejected attempts to keep XRP trading above $1.22.

Liquidation Levels Highlight Further Downside Risk

CoinGlass identified $1.1588 as a nearby downside threshold where additional leveraged positions could face forced liquidation. At the reported price of $1.1799, XRP was approximately 1.79% above that level. Liquidation maps of this kind aggregate estimated leverage across major venues, which is why traders often use them to identify price zones where forced closures could cluster.

A separate liquidation chart highlighted $1.1729 as another price level with concentrated long-position exposure. According to the reported estimates, a further decline could put approximately 928,900 in additional positions at risk of liquidation.

Source: CoinGlass

XRP's position below its major moving averages reflects continued bearish pressure, while the nearby liquidation thresholds remain key levels for traders assessing potential downside exposure.

The report was written by Marcus Renfield, a crypto market analyst and on-chain writer covering cryptocurrency markets with a focus on on-chain data, Bitcoin price action, and emerging market narratives for Hokanews.