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XRP bulls were left stunned after a massive liquidation imbalance of over 8,900% shook the cryptocurrency market today.
The biggest single liquidation was from Bitcoin, at $4.76 million, but XRP’s concentration of losses in such a short time pushed it into the top three assets by liquidation volume today. This unexpected turn of events has left many traders wondering what this could mean for the future of the market and individual asset prices.
It is not just the size of the losses that is cause for concern, but also how off they are from what traders are doing and what is actually happening on the market. The bulls on XRP were clearly betting heavily on upside scenarios, perhaps reading stability or rebound potential in earlier price levels that did not hold.
Source: https://u.today/8900-liquidation-imbalance-stuns-xrp-bulls
