$XRP
🚨$70 Million in Liquidations Hit Bullish Traders🚨
The latest pullback triggered more than $70 million in XRP futures liquidations, with the majority coming from long positions. In simple terms, many traders were positioned for a rebound, and when price slipped below key levels, forced selling kicked in.
As XRP dropped under nearby support zones, margin calls accelerated the decline. This type of liquidation cascade often creates exaggerated moves, where selling feeds on itself rather than reflecting a sudden change in fundamentals. It also explains why the price struggled to stabilize quickly after the initial dip.
Here are the main points from the liquidation data:
Most liquidations came from long positions, which shows traders were still optimistic.
Forced selling made the market more volatile, instead of traders taking profits naturally.
Leverage is coming down, but it hasn’t been completely cleared from the market yet.