XRP Price Stuck in Tight Range After Binance Futures Liquidation Reset

XRP price eased to around $2.12 after a rare two-sided liquidation event on Binance Futures cleared leveraged positions from both longs and shorts, leaving the token consolidating in a narrow $2.07–$2.17 range. Despite constructive long-term narratives around XRP Ledger adoption and institutional infrastructure, short-term price action continues to be dictated by derivatives flows rather than fundamentals.

Over the past 24 hours ending Jan. 9, XRP slipped roughly 2.3%, retreating from $2.17 to $2.12. The move followed an unusually symmetrical liquidation sequence. On Jan. 5, XRP surged toward $2.40, triggering approximately $4.4 million in short liquidations as bearish traders were forced to cover. Just one day later, momentum reversed, leading to about $5.5 million in long liquidations, including roughly $1 million on Binance, which punished late breakout buyers and pulled price back into consolidation.

This type of two-sided liquidation typically signals market indecision. While the leverage flush reduces the risk of immediate cascading liquidations, it also suggests traders are still searching for direction, with the market behaving in a mean-reverting, range-bound manner.

Technically, the most important development was the defense of the $2.07–$2.08 support zone. On Jan. 8, heavy volume surged as XRP dipped into this area, with more than 154 million tokens traded—well above the 24-hour average. Buyers stepped in aggressively, driving a sharp rebound toward $2.16, but repeated failures near $2.17 confirmed persistent overhead supply.

Shorter timeframes remain volatile, showing quick flush-and-rebound moves that fail to sustain momentum. As long as XRP remains below $2.17, upside attempts are likely to stall. A clean break above that level could shift sentiment and open a path toward $2.25–$2.30. Conversely, a loss of $2.07 would expose downside risk toward $2.05 and potentially the $1.85–$1.90 demand zone.

Meanwhile, fundamentals remain supportive. Evernorth, an XRP-focused digital asset treasury firm backed by Ripple and SBI Holdings, recently announced a strategic collaboration with Doppler Finance to explore institutional liquidity and treasury use cases on the XRP Ledger. While still exploratory, the initiative underscores growing institutional interest, even as XRP’s near-term price remains driven by technical resets rather than long-term adoption narratives.