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In a roller coaster ride for the crypto market,&nbsp;<a href="https://u.today/xrp-price-expects-setback-if-this-comes-true" rel="noopener noreferrer nofollow">XRP</a>, one of the most popular cryptocurrencies, has experienced a tumultuous few days. The stress was palpable across the board, as assets, traders and enthusiasts witnessed a sea of red.
Beginning this unsettling trend on Wednesday, the price of XRP has plummeted by more than 5.7%, slipping below the $0.55 mark where it currently hovers. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="2fa19143-93ab-461d-bde1-5727b7281e63" src="https://u.today/sites/default/files/inline-images/xrp_342.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
The most significant blow occurred within the past 24 hours, witnessing a rapid 4.47% drop in the&nbsp;<a href="https://u.today/xrp-etf-not-in-the-cards-blackrock-says" rel="noopener noreferrer nofollow">XRP price</a>. This sharp decline led to the natural liquidation of a substantial number of traders' positions in XRP. The aftermath of this market turmoil was beyond expectations, with&nbsp;<a href="https://www.coinglass.com/LiquidationData?fbclid=IwAR3Kzfm_kp-H6k6qrtM7s-L7MdFTg3g8lKA3uhob0V5DvIJvc71E4VodU1A" rel="noopener noreferrer nofollow">CoinGlass</a> reporting a staggering $2.47 million worth of XRP positions liquidated in the past 24 hours.&nbsp;
<h2 id="the-catch">The catch</h2>
What sets this apart is the revelation that $2.43 million of these liquidated positions were long positions — essentially bets on the token's growth, marking a 6.880% increase compared to the liquidations of short positions in dollar terms. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="d3ed7ac3-d13e-4423-949e-289861c72c3a" src="https://u.today/sites/default/files/inline-images/liqq.png">Source: <a href="https://www.coinglass.com/LiquidationData?fbclid=IwAR3Kzfm_kp-H6k6qrtM7s-L7MdFTg3g8lKA3uhob0V5DvIJvc71E4VodU1A" rel="noopener noreferrer nofollow">CoinGlass</a>
XRP, amid this financial bloodbath, claimed a prominent position on the list of liquidated assets, trailing only behind crypto giants like&nbsp;<a href="https://u.today/is-bitcoin-creator-satoshi-nakamoto-back-enigmatic-post-sparks-speculation" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and&nbsp;<a href="https://u.today/dormant-ethereum-eth-whale-just-woke-up-and-bought-billions-of-shiba-inu-shib" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>. Notably, it also yielded to some actively discussed assets like MANTA and SUI.
The total fallout from this market mayhem reveals that positions worth almost a quarter of a billion dollars were liquidated during this period, with an overwhelming 84.9% of these being long positions.

XRP Price Action Puts Bulls 6,880% Above Bears, But There's a Catch

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