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Abnormal 51,209% Liquidation Imbalance Absolutely Stuns XRP Bears
Something unusual just occurred in the crypto derivatives market, with Ripple’s XRP at the center of it. As per recent data from CoinGlass, a staggering $337 million in liquidations took place. However, XRP stands out for an extraordinary and unprecedented 51,209% liquidation imbalance that is sending shockwaves throughout the community.
The remarkable aspect of this event is the stark contrast between long and short positions. It appears that almost the entire XRP liquidation volume was concentrated on the short side, with longs barely affected at $812.87. On the other hand, shorts suffered a crushing loss of $414,800, resulting in a ratio that defies all expectations.
As it would be expected, the XRP price responded by surging higher, reclaiming the $2.98 level following a short-lived dip beneath $2.95. The chart’s sharp ascent indicates a calculated climb with little to no slippage on its upward trajectory.
This extraordinary imbalance in liquidation suggests that many investors anticipated a downturn that never materialized. Instead, XRP made an unexpected move upwards, likely triggering chain reactions of stops and further price movements.
Source: u.today
