The cryptocurrency market extended its weekend stability on Monday, with Bitcoin (BTC) trading near $77,284 after a 0.8% daily gain and Ethereum (ETH) holding above $2,100. XRP (XRP) remained a focal point, clinging to the $1.36 level while Binance’s liquidity gauge hit its weakest reading since January 2020.
According to CryptoQuant analyst Arab Chain, XRP’s 30-day liquidity index on Binance dropped to approximately 0.043—a six-year low. The figure stood in stark contrast to readings above 3 and 4 points observed between 2022 and 2024, signaling a sharp reduction in available market depth. Thinner order books increase XRP’s sensitivity to large trades, potentially amplifying price swings even with modest volume.
In a related move, CryptoQuant’s Amr Taha noted that Binance whales withdrew $49.2 million worth of XRP on May 22 while the token traded below $1.35. This withdrawal added to a series of similar outflows: $60.7 million on February 27, $35.5 million on March 6, and $37 million on March 26—all clustering near the $1.35–$1.40 range. Such behavior during price weakness often suggests accumulation rather than imminent selling, though it does not guarantee a rebound.
Technical indicators remained bearish. XRP traded at $1.36, below the 9-day moving average at $1.3663 and the 21-day moving average at $1.4051, keeping the near-term trend neutral-to-bearish. Support sat near $1.3435, with resistance at $1.3663 and the critical $1.40 zone. The MACD remained below the zero line with a negative histogram, confirming weak momentum. Options market data from Deribit showed a large trader selling 1.5 million contracts of both $1.40 calls and puts, collecting $224,500 in premiums and betting on continued rangebound action through June 26.
Broader market conditions reflected cautious sentiment. Bitcoin’s dominance stayed intact with a market cap above $1.54 trillion, while Ethereum’s valuation exceeded $254 billion. Combined trading volume for the two surpassed $36 billion. Elsewhere, smaller tokens exhibited explosive moves: PlaysOut (PLAY) surged 52.4%, Anoma (XAN) gained 49.5%, and SEDA (SEDA) jumped 48.5%. Despite the speculative froth in lower-cap assets, large-cap coins remained in tight ranges, with investors watching whether volume can support another leg higher.
