XRP is trading at approximately $1.2 after more than $12 million in long positions were liquidated, according to a November 5 market snapshot. The asset has moved further into a longer-term downtrend, with technical indicators suggesting a potential local bounce toward $1.25 before further weakness.
XRP Ledger Amendment and Price Action
The XRP Ledger activated the fixCleanup3_4_0 amendment on November 4 at 14:52 UTC. This update removed an exploit that, under specific conditions, allowed accounts authorized to burn an issuer’s tokens to also mint them. The native supply of XRP was not affected by the exploit, and illicit actors have not used it.
On the price chart, XRP has broken the $1.2 psychological threshold. Low trading volume on Friday disrupted bullish momentum during the transition into the weekend session. An EMA cross between the 100 EMA and the 50 EMA is viewed as a signal of further price weakness and trend acceleration. On-chain activity on the XRP Ledger appears largely automated, involving trading bots or sophisticated LLM models, with market movement driven more by speculative interest than fundamental network usage.
Hyperliquid U.S. Application and Stellar Update
Hyperliquid (HYPE) fell by almost 9% on November 5, trading below $80. Hyperliquid Strategies (PURR) disclosed that it has applied to become a U.S. futures commission merchant. If approved, the platform would be able to bring U.S. clients directly to its perpetual markets. Hyperliquid also reported $620 million in quarterly net income, which includes $803 million in unrealized HYPE gains. On October 29, the company announced a separate agreement with ICE-Trade.
Technically, HYPE has bounced from a local support level of approximately $77. The next major support is the 200 EMA, which coincides with the $68 price level. Resistance levels are identified at $84 for the trendline and $89 for the first psychological barrier.
Stellar (XLM) has fallen toward $0.157. A 500,000 XLM long liquidation was recorded following the bearish price performance. The network released Bell (Protocol 30) on testnet on November 3, introducing post-quantum signature verification for smart contracts and millisecond ledger timestamps. The mainnet validator vote for this update is set for November 23 at 17:00 UTC. A break below the $1.5 support level could trigger a further decline for the asset.
Frequently Asked Questions
What did the XRP Ledger amendment fix?
The fixCleanup3_4_0 amendment removed an exploit that allowed accounts authorized to burn tokens to also mint them. The native XRP supply was not affected by this vulnerability.
When is the Stellar mainnet vote scheduled?
The mainnet validator vote for the Stellar Bell (Protocol 30) update is set for November 23 at 17:00 UTC.
