XRP Price At a Crossroads As Wedge Pattern Signals 70% Crash or 700% Surge

Technology

Weekend Demand Weakens as BTC and ETH Traders Lose $50M in Liquidations – Crypto News

Published

1 year ago

April 6, 2025

Dripp

XRP price rebounds above $2 as BTC and ETH see $50M in liquidations, but derivatives trading metrics suggest weekend volume weakness may pressure altcoins lower.

Ripple (XRP) price holds $2 support as altcoins mirror Bitcoin’s resilience to Trade War Triggers

Ripple (XRP) price initially plunged to 30-day lows around $1.80 with hours after Trump announced sweeping tariffs during the liberation speech on Friday.

However, the momentum swung positive in recent days as BTC holds firm above $82,000 after China retaliatory 34% tariffs on Thursday, reinforcing investor confidence in the crypto markets as a crisis resistant asset class.

Ripple (XRP) price action, April 5 | Source: TradingView

Ripple price rebounded 12.5% since Thursday, rising as as $2.15 at press time according to CoinMarketCap data.

As seen above, Ripple price continues to consolidate well-above the $2 mark, mirroring the likes of ETH, BTC and SOL, which have also defended key psychological support levels around $1,800, $80,000 and $110 respectively over the past week.

Meanwhile, top-ranked US stocks such as Apple, NVIDIA and Microsoft all recorded 15% losses a piece before the week’s trading closed on Friday.

Derivative Market Analysis: Crypto Buying Pressure Could Slow Down this Weekend

With top-ranked crypto assets including XRP all consolidating around key psychological price points this weekend, it signal market-wide buying support, amid capital inflows from investors exiting stocks amid US trade war tensions.

However, considering that US markets are now closed, the volume of transitional capital flows could slow down significant until pre-market trading begin.

Validating this stance, Coinglass derivatives market data shows evidence of short-term bearish trading signals.

Crypto Derivatives Markets Analysis, BTC, ETH See $50M Losses, April 5 | Source: Coinglass — Crypto Derivatives Markets Analysis, BTC, ETH see combined losses of $50M, April 5. | Source: Coinglass

Derivatives data from Coinglass reinforces this stance. Over the past 24 hours, crypto markets saw a total of $110.65 million in liquidations, with long positions accounting for $85.10 million—over 76% of the total.

Bitcoin and Ethereum alone alone recorded nearly $50 million combined, with BTC traders booking $36.32 million in liquidations, followed by Ethereum at $13.61 million.

The bearish imbalance, especially the outsized long wipeouts in the last 12 hours ($67.11M longs vs $13.48M shorts), points to a rising number of over-leveraged bullish positions being flushed out.

This suggests short-term exhaustion in buying momentum, increasing the likelihood of a minor pullback or sideways action through the weekend.

With high leverage being unwound and external demand on pause, weekend trading may turn defensive with XRP markets and other prominent altcoins.

Strategic altcoin traders woould watch for support retests, especially if funding rates begin to flip or volume declines further ahead of Monday’s open.

XRP Price Forecast: Bulls facing Resistance at $2.20, Amid Weekend Caution

As the week closes on April 5, XRP price forecast charts on TradingView reflect signs of short-term exhaustion following its rebound to $2.15.

Despite five consecutive green candles, XRP price remains below the 50-day EMA at $2.21 and the 100-day EMA at $2.28. This reflects supply-side pressure still outweighing momentum, even as bulls attempt a recovery from March’s lows.

Notably, the 200-day EMA near $1.95 is acting as a key anchor. A breach below this could trigger stop runs and reopen downside risk toward $1.80.

True Strength Index (TSI) remains in bearish territory at -0.80, yet is flattening, hinting that the selling momentum is decelerating. Volume has weakened across recent sessions, confirming the rally lacks conviction. A clear break above $2.22 would be required to invalidate near-term bearish bias.

Until that happens, XRP remains vulnerable to weekend drawdowns. Bulls must defend $1.95 or risk deeper losses into next week’s open. A close below $2.00 would reassert sellers’ control short-term.