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Abnormal 3,222% Liquidation Imbalance Puts XRP Price Below $2
XRP traders just got hit hard — and most of them didn’t see it coming. In the last 24 hours, XRP dropped a shocking 9%, briefly hitting $1.95 before finding any kind of support. For a $130 billion asset, that’s a significant impact.
But the real impact wasn’t reflected in the XRP price chart — it was in the derivatives, where the liquidation numbers paint a one-sided picture. According to CoinGlass, a whopping 3,222% imbalance in liquidations occurred, with $32.07 million of XRP being liquidated. Notably, an astonishing $31.10 million of those liquidations came from longs, while shorts were barely touched, with only $965,810 liquidated.
This unprecedented imbalance demonstrates the overwhelming bearish sentiment that has engulfed the market. The data suggests a complete wipeout of one direction, leaving many traders reeling and scrambling for cover.
Source: u.today
