In a remarkable event, XRP experienced a 5,438% imbalance in liquidations between long and short positions within an hour. Total liquidations reached 7.64 million USD, highlighting significant market mispositioning.
XRP’s price fell from approximately 2.20 USD to about 2.16 USD, which triggered forced liquidations of leveraged long positions. This market reaction indicates a troubling lack of foresight among bullish traders.
Over the course of 24 hours, the broader crypto market saw 374 million USD in liquidations, impacting over 162,000 traders. Bitcoin and Ethereum experienced substantial liquidations but not with the extreme imbalance seen in XRP.
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