Peter Smith
XRP price is having a decent day, up 2.5% to $3.26, but the real story is what happened behind the scenes. Derivatives traders just got absolutely wrecked in one of the most lopsided liquidation events we've seen in a while.
XRP Longs Get Obliterated in Market Mayhem
Here's where things got wild. XRP liquidations hit $803,388.84 in just one hour. But here's the kicker - almost every single dollar of that came from long positions getting liquidated. We're talking $803,170 in long liquidations versus a measly $218.84 from shorts. That's a mind-blowing 366,941% imbalance.
Think about that for a second. While short traders barely felt a scratch, bulls betting on XRP's rise got completely demolished. This all went down as XRP bounced from around $3.10 back up to $3.20, which honestly doesn't seem like that big of a move to cause such carnage.
The good news? Despite the liquidation mess, XRP is still looking pretty solid. Trading volume jumped 62.7% to $6.6 billion, which shows people are still hungry to buy the dip. That kind of volume spike usually means we could see more upside ahead.
Big Money Moves in XRP
While retail traders were getting liquidated left and right, the whales were making moves. The Tradable spotted a mystery whale who just dropped $16.62 million on XRP, buying 5.17 million tokens at around $3.20 on Hyperliquid. They used 2x leverage across three separate positions, which shows they're pretty confident about where XRP is headed.
But that's not all. Whale Alert caught over $53.4 million worth of XRP getting moved to Coinbase. These big transfers usually mean something's brewing, whether it's profit-taking or smart money repositioning for the next move.
XRP Whales Keep Accumulating
Popular analyst Ali Martinez has been tracking the whale activity, and the numbers are pretty impressive. These big players scooped up over 130 million XRP in just 24 hours during recent price dips. When whales are buying while retail is getting liquidated, that's usually a good sign for what's coming next.
The whole situation paints an interesting picture. Sure, leveraged longs got absolutely crushed, but the underlying demand for XRP seems strong. With whales accumulating and volume surging, XRP might just be gearing up for its next big move despite today's liquidation chaos.
Peter Smith
