XRP Experiences Deepest RSI Reset as $60M Open Interest Vanishes Within Days

According to crypto analyst EGRAG CRYPTO, XRP experienced one of its deepest Relative Strength Index resets in history as approximately $60 million in open interest disappeared within days. Data from CryptoQuant shows much of the liquidation came from Bybit, where overleveraged long positions were forced out.

Despite the sharp reduction in speculative activity, XRP's price remained relatively resilient at $1.16 per CoinCodex data. Historically, such leverage flushes erase heightened speculation and reduce cascading liquidation risks, often creating conditions for stronger participants to accumulate at more favorable levels. EGRAG CRYPTO noted that major XRP rallies have frequently emerged when confidence is at its lowest, suggesting the current combination of record-deep RSI reset and open-interest washout could eventually set up the next expansion phase.