XRP Price Rises 4% as Ripple’s XRPL Bug Fix Set for Activation
XRP gained about 4% in 24 hours to $1.34 on Wednesday, outperforming a broader market bounce primarily driven by a short liquidation squeeze across crypto.
The total crypto market cap rose 2.11%, partly driven by a cascade of leveraged short positions being forced to close. Traders noted approximately $315 million in futures were liquidated in 24 hours, with shorts accounting for 59–60% of that total.
This created buy-side pressure that lifted major coins, including XRP. XRP’s rise was largely a beta move, riding a wave of forced buying rather than being driven by its own news.
Aggregate XRP open interest rose 2.5% to $1.40 billion, indicating traders are re-engaging with leveraged bets. Technically, price reclaimed its 200-day average of $1.28 and is testing the 78.6% Fibonacci retracement level at $1.34, a key resistance.
Price action suggests a shift from bearish to neutral, with momentum buyers stepping in after the key level break. A daily close above $1.34 to confirm the breakout and target the next resistance at $1.56.
The immediate path hinges on the $1.25 support. If buyers defend it, the base case is a grind toward $1.33–$1.34. The risk case is a breakdown below $1.25, which could trigger stops and target the $1.00 area.
The upcoming XRP Ledger fixCleanup3_4_0 amendment activation around October 23 provides a near-term sentiment event.
The XRP Ledger is on course to activate a package of protocol-level bug fixes on Friday, a maintenance event that will patch, among other things, code underlying a native lending system that has not yet been approved for use.
The amendment, designated fixCleanup3_4_0, held 29 affirmative votes from the network’s 35 trusted validators as of Monday, according to the XRPL Dashboard tracker.
That is exactly the threshold required, and support must stay above 80% for the full 14-day voting window. The amendment hit the mark on Oct. 9 and is projected to take effect at 09:34 UTC on Oct. 23, unless a validator withdraws support.
The trend is attempting to turn from bearish to neutral, but it remains fragile and within a larger corrective range. Price reaction at the $1.33–$1.34 resistance and any shift in exchange reserve trends, which are at a one-year high.
XRP’s gain reflects a market-wide squeeze and technical buying, with no strong fundamental catalyst. The move needs to hold above key support levels to sustain. #XRP Price Climbs 4% as Ripple’s XRPL Bug Fix Set for Activation Pi Network Drops to $0.77 as Investors Rotate Positions
