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XRP sees 37% wick on Bitstamp, but other venues show smaller moves
Bitstamp recorded a one minute high to low of $1.69739 to $1.06689, while Kraken and OKX showed narrower 24 hour ranges, and XRP still had $3.66 billion in open interest afterward.
Bitstamp’s XRP/USD spot pair briefly spiked and collapsed within a one minute window, hitting a one minute high of $1.69739 at 05:03 UTC before falling to $1.06689 in the 05:10 candle. The resulting high to low move was 37.15%, and the 05:10 candle later closed at $1.44837, recovering much of the drop before the minute ended, a pattern known as a wick, according to CryptoSlate.
CryptoSlate compared that Bitstamp candle to other venues to argue the event should not be treated as XRP’s market wide return. Kraken’s XRP/USD ticker showed a rolling 24 hour high of $1.70 and a low of $1.3359, a 21.4% range, while OKX’s XRP/USDT ticker showed a $1.70 high and $1.3757 low, a 19.1% range.
The outlet also said the timing coincided with a broader leverage flush across crypto, citing CoinGlass data relayed by KuCoin. That liquidation activity was reported as $523 million over one hour, including $448 million in longs and $74.76 million in shorts, and CryptoSlate noted that some larger, XRP specific claims from other outlets varied based on rolling capture windows.
Finally, CryptoSlate pointed to derivatives positioning after the move, saying CoinGlass showed $3.66 billion in XRP open interest at 01:50 UTC on Aug. 23, along with $18.08 billion in 24 hour futures volume versus $5.10 billion in spot volume. The outlet added that without consistent pre, during, and post readings of open interest and funding, the exact size of any leverage reset tied specifically to the wick cannot be measured cleanly.
Latest closeXRP $1.519 ▼0.2%