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Amid a chaotic period for cryptocurrencies, XRP has emerged as a focal point of attention, experiencing a staggering surge in liquidations within a short span. Recent hours have witnessed an unprecedented increase in the liquidation of positions in&nbsp;<a href="https://u.today/xrp-alert-single-whale-snaps-up-32-million-xrp-on-major-korean-exchange" rel="noopener noreferrer nofollow">XRP</a>, as the broader crypto market grapples with substantial losses.
<a href="https://www.coinglass.com/currencies/XRP" rel="noopener noreferrer nofollow">CoinGlass</a> data reveals a stark picture, with liquidations of XRP positions soaring to $986,530 in just the past four hours alone. Alarmingly, a staggering 99.38% of these liquidations represent long positions, indicating a significant exodus of bullish sentiment. The intensity of liquidations intensified further within the last hour, witnessing a notable spike of 1,868%, totalling $933.73. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="8bda7f93-d7d7-43fd-9466-5bded1337423" src="https://u.today/sites/default/files/inline-images/xrppricee_1.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Delving deeper into the statistics shows a distressing trend. Over a 12-hour period, liquidations skyrocketed to a staggering $1.61 million, with short positions accounting for a mere $166,420.&nbsp;
In the broader scope of 24 hours, XRP derivatives liquidations reached a staggering $2.73 million, with a whopping 90.5% of the liquidated positions representing longs and only 9.5% being shorts. The numbers paint a grim picture for XRP bulls, who faced significant setbacks within the past day.
Simultaneously,&nbsp;<a href="https://u.today/ripple-cto-clears-controversy-around-xrp-and-ripple-naming" rel="noopener noreferrer nofollow">XRP's price</a> trajectory has mirrored this tumultuous activity on the market. Following a bullish trend throughout the preceding day, XRP abruptly reversed course, witnessing a 3.31% decline in value. This downturn brought the price to $0.587, a seemingly modest drop that nonetheless proved sufficient to trigger liquidations amounting to nearly a million dollars within a single hour.

XRP Skyrockets 1,868% in Liquidations Amid Crypto Bloodbath

U_Today

Alte articole publicate pe 10 apr. 2024

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