- XRP remained flat as Ripple unlocked its usual monthly tokens.
- Shorts with a target price of less than $0.60 can be liquidated.
In two separate transactions, Ripple [XRP] performed its first common token 1 billion unlock of 2024. According to details of Whale alertan initial set of 500,000,000 tokens was unlocked via escrow.
Minutes later, another 500,000,000 tokens left the Ripple wallet.
Another year, another unlock
At the time of writing, the value of the total tokens unlocked was $611.42 million. For the uninitiated, Ripple is unlocking these tokens as a strategy to stabilize the XRP price.
However, the latest unlock is different from other projects. This is because the blockchain payment company re-escrows them to control circulation.
Ripple could complete the token unlocking mechanism by April or May 2027. But how did XRP react to the event this time? According to CoinMarketCap, XRP was able to hold $0.61.
This value was about the same as the price of XRP seven days ago, implying that volatility around the cryptocurrency was low. This was also confirmed by the Relative Strength Index (RSI).
The band contraction also indicated that XRP price fluctuations could be minimal. However, the lower band of the BB reached XRP at $0.61.
This suggested that XRP was oversold at the time of writing. Should buying pressure occur, $0.61 could be the level at which XRP reverses to the upside. Meanwhile, the Relative Strength Index (RSI) showed that buying momentum was picking up again.
Stable guys, bulls need to deploy capital
At the time of writing, the RSI value was 44.93. But for XRP, the RSI would have to rise above the 50.00 midpoint to confirm the reversal. If this happens, XRP could be on its way to $0.65.
Moreover, accumulation/distribution (A/D) stabilized, indicating that bulls had not yet started buying XRP. If the A/D continues to hover around the same area, XRP could continue to consolidate around $0.61.
Source: TradingView
Meanwhile, there was the Cumulative Liquidation Levels Delta (CLLD) where traders shorted the Ripple-native token, but with medium leverage.
The CCLS is the sum of the difference between all long liquidation levels and all short liquidation levels within a given period.
Positive values of the CLLD indicate that more long-term liquidations are taking place. Negative values, on the other hand, indicate that there are more short liquidations. AMBCrypto also assessed liquidation levels. 
Source: Hyblock CapitalLiquidation Levels show the estimated price that could result in the loss of money for traders. This can be for both long-positioned market players and shorts.
How much are 1,10,100 XRPs worth today?
The chart below shows that traders with positions targeting prices below $0.60 could face liquidation. As it stands now, XRP could continue to consolidate until the next Ripple unlock in February.
However, a rise above $0.65 could be on the cards depending on the accumulation gathered.