Usman Salis
XRP got hammered in the last 24 hours, dropping 8.51% and briefly hitting $1.93 before finding support. The real damage happened in derivatives markets where a massive 3,222% liquidation imbalance between longs and shorts shows just how badly positioned traders were.
XRP (Ripple) Long Squeeze Triggers $32M Liquidation Wave
XRP (XRP) traders just got schooled — hard. The token dropped 8.53% in a day, which for a $130 billion asset is pretty wild. But here's the kicker: while the price chart looked bad, the derivatives markets told the real story.
CoinGlass data shows $32.07 million in XRP liquidations hit the market. Here's where it gets crazy — $31.10 million came from long positions, while shorts only lost $965,810. That's a 3,222% difference between bulls and bears getting wrecked. It was basically a one-way massacre.
This wasn't some random dump either. The broader market was already sketchy, but traders kept piling into leveraged longs like nothing could go wrong. When reality hit, it hit fast and brutal.
XRP (Ripple) Bulls Still Haven't Learned Their Lesson
Even after getting crushed, XRP's (XRP) open interest hasn't dropped much. Translation? The leverage junkies are still out there, just licking their wounds. This is textbook long squeeze territory — too many bulls, not enough bears, and zero strong buying when things went south.
What's scary is that this setup could easily repeat. When you've got inflated long exposure and no real bid support, any bad news can trigger another liquidation cascade. The leverage didn't disappear — it just got temporarily humbled.
For anyone who survived this bloodbath, the message is clear: when sentiment breaks and you're overexposed, there's no safety net. Just the exit door, and it's usually crowded.
Usman Salis
