Ethereum Pushes Past $3,500 as XRP Reaches New All-Time High

Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.

Ethereum’s rally above $3,100 triggered around $800 million in crypto liquidations in the past 24 hours, with more than 134,000 traders caught off guard by the sharp market move.

Meanwhile XRP reaches a new all-time high.

Key Details:

• Total crypto liquidations: $547.45 million
• Traders liquidated: 134,732
• Largest single liquidation: $8.37 million on Bybit (BTCUSD pair)
• ETH price: $3,129 (up 3.86%)
• BTC price: $117,595 (down 1.84%)

The majority of liquidations were from long positions, totaling $361.53 million, while shorts accounted for $185.92 million. Ethereum traders faced the largest share of losses at $23.51 million, followed by Bitcoin at $2.54 million.

Exchange Breakdown

• Binance: $18.10 million liquidated (66.19% short positions)
• Bybit: $11.29 million (67.49% short)
• OKX: $10.50 million (81.77% short)
• HTX: $8.25 million (96.6% short)
• Gate: $6.60 million (80.27% short)

The surge in ETH appears linked to a rotation of capital from Bitcoin into altcoins, with Ether showing strength in both USD and BTC pairings. ETH/BTC broke above its 200-day moving average for the first time in a year.

ETH Outperforms BTC

• ETH regained $3,000 for the first time since February 1
• ETH/BTC broke a three-year downtrend in relative strength index (RSI)
• Ethereum has rebounded 100% since Q2 lows

Bitcoin’s Correction

• BTC dropped 5% after touching $120,000
• CME futures gap between $114,380 and $115,630 remains unfilled
• Whale activity spiked on Binance, increasing sell pressure

With 98% of BTC supply in profit and increased profit-taking from long-term holders, analysts warn of continued volatility. Some predict Bitcoin may correct further to $108,000 while Ethereum continues its lead in the altcoin market.

XRP Sets New Record

XRP surged to a new all-time high of $3.64 on July 18, climbing more than 18% in a single day. The move pushed XRP’s market cap past $207 billion, making it the third-largest cryptocurrency by valuation.

While XRP continues its surge, analysts are monitoring for possible short-term resistance near $3.80. Sell-offs totaling $1.7 billion in the past 10 days suggest traders may take profits if volatility returns.

This article is published on BitPinas: Ethereum Pushes Past $3,500 as XRP Reaches New All-Time High

What else is happening in Crypto Philippines and beyond?