XRP (XRP) Price: $3 Billion in Liquidations Sitting Above — Is a Short Squeeze Coming?

TLDR

• XRP traded near $1.339, rebounding from support at $1.28–$1.29
• Resistance sits at $1.34–$1.35; a break could push price toward $1.45
• Open interest rose to $951 million, a two-week high, with negative funding rates
• Monday’s 3% gain was driven by U.S.-Iran ceasefire talk headlines, not Ripple news
• XRP remains inside a falling channel that has been in place since mid-2025

XRP climbed roughly 3% on Monday, trading near $1.339–$1.35 after broader crypto markets got a lift from news of U.S.-Iran ceasefire talks. Bitcoin hovered near $69,870 and Ether near $2,144 during the same session. XRP lagged both but still posted a solid day.

XRP Price

The move upward started from the $1.28–$1.29 demand zone, where volume picked up sharply during the bounce. That buying activity helped XRP reclaim the $1.30–$1.32 range before pushing back into resistance.

Crypto analyst CW noted that XRP has moved back into the red supply zone between $1.34 and $1.355. This area has capped price before and remains the key short-term barrier.

$XRP is currently blocked by resistance from a sell wall.

If it breaks through this sell wall, a further rise to $1.42 is expected. pic.twitter.com/L4lM36T7F9

— CW (@CW8900) April 6, 2026

If bulls can close above that zone, the next level to watch is $1.42. Beyond that, a supply zone sits between $1.47 and $1.50, putting $1.45 in focus as a potential target.

On the downside, $1.31–$1.32 is the nearest support. Below that, $1.28 remains the more important floor. A drop under that level would put XRP back into a deeper consolidation range.

Open Interest and Funding Rates

CryptoQuant analyst Maartunn reported that open interest rose from $892 million to $951 million as price fell below $1.31 — the highest reading in over two weeks. Funding rates turned negative, hitting -0.0010, meaning short traders were paying long traders. This points to strong bearish positioning in the derivatives market.

Liquidation clusters above current price total $3.055 billion, with $318.57 million sitting near $1.356. If XRP pushes into that area, short positions could face pressure, potentially accelerating a move through resistance.

Santiment reported that the average active XRP Ledger wallet over the past year is down 41% on investments. The analytics firm noted this is the lowest MVRV (Mean Value to Realized Value) reading for XRP since the FTX collapse in November 2022, suggesting traders are in deeply negative territory.

📉 Average wallets that have been active on the XRP Ledger over the past year are down an average of -41% on their investments. This is the lowest MVRV (Mean Value to Realized Value) for XRP traders since the FTX crash in November, 2022.

0⃣ Because cryptocurrencies are zero sum… pic.twitter.com/wADnXQ9vk2

— Santiment (@santimentfeed) April 7, 2026

Monday’s rally had little to do with Ripple-specific news. Iran rejected Pakistan’s ceasefire proposal shortly after it was floated, limiting any sustained risk-on move. Robert Pavlik of Dakota Wealth told Reuters: “Until we have some kind of concrete agreement it’s hard to be fully committed to investing.”

Macro Calendar Ahead

The U.S. economic calendar is busy this week. Fed minutes drop Wednesday, PCE inflation data arrives Thursday, and CPI figures land Friday. Wells Fargo scrapped its 2026 rate cut forecast on Monday; Citigroup delayed its own projection after strong jobs data.

Ripple did launch treasury software with XRP balance tracking on April 1, and CME added XRP futures options on its CFTC-regulated platform. Despite these infrastructure additions, macro headlines remained the main price driver on Monday.

XRP is still inside a falling channel dating back to its July 2025 peak near $3.60, with failed breakout attempts recorded at $3.18, $3.10, $2.41, and $1.60 since then.