XRP News Today: XRP Shorts Liquidated $28.93M as Price Surges 10%

XRP traders were caught off guard after a sharp price movement triggered a wave of forced liquidations, mainly from short positions. Short trades on XRP accounted for $28.93 million in liquidations, compared to only $10.04 million on the long side. This move created an $18.89 million imbalance, making it one of the most skewed liquidation events across significant digital assets in the last 24 hours. The cost of XRP increased rapidly to the region of $3.30 and then fell somewhat, but emerged around $3.24. This was a clean upward pattern after smooth price action in Asian time and a breakout during early U.S. time.

Within four hours, mini liquidations on XRP touched $15.36 million, over tenfold the number of long positions liquidated during the same time. The only cryptocurrencies that experienced more liquidations on the day than Ethereum and Bitcoin were Ethereum and Bitcoin. The overall amount of XRP liquidations amounted to $38.98 million, with the majority of it being over-extended shorts. The resulting increase in terminations indicated this rapid shift of public perception following the breakout.

The market-wide impact was significant, with total liquidations across all cryptocurrencies hitting $557.7 million. Nearly 148,000 positions were wiped out, with XRP playing a key role in the overall volume. Instead of following erratic patterns, the XRP price chart was clean and represented a proper tendency. Still, the accuracy of the movement made it even more challenging for the short sellers to adjust to the condition. The liquidation heatmap reported a distinct accumulation before the price escalated, and the majority of closures came when the breakout was still in progress. This incident strengthened the concern of playing unhedged positions in swiftly moving markets such as the XRP.

As trading continues, XRP’s recent move is likely to influence how traders approach risk in the derivatives space, especially when strong trends form without warning. The liquidation gap highlights rising risk in leveraged trading activity. The sudden price surge of XRP led to a significant number of short positions being forcibly closed, underscoring the volatility and risk associated with leveraged trading in the cryptocurrency market. This event serves as a reminder for traders to carefully manage their positions and consider the potential for rapid price movements in the derivatives market.