news 
Abnormal 51,209% Liquidation Imbalance Absolutely Stuns XRP Bears
In a shocking turn of events, the cryptocurrency market has witnessed an unprecedented liquidation imbalance, which has left the XRP bears stunned. According to real-time data from CoinGlass, the unusual phenomenon saw over $337 million in liquidations occur. Notably, it was Ripple’s native asset, XRP, that took center stage with a staggering 51,209% liquidation imbalance.
The market observed an extraordinary trend where almost the entire XRP liquidation volume was concentrated on the short side. Conversely, long positions were remarkably untouched, with only $812.87 in total losses. The stark contrast between the two sides is nothing short of astonishing and raises concerns about the overall sentiment surrounding the cryptocurrency.
This development is significant as it indicates that most traders who had taken short positions on XRP have been wiped out. Moreover, this imbalance underscores an extreme bullish momentum that has not been seen before in the market. This dramatic shift leaves us with more questions than answers regarding the implications of such a drastic change.
What do you think about this event?
Source: u.today
