XRP’s 13,600% Liquidation Disaster: What’s Next? 💸🔥

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Ah, the fickle dance of the crypto market! XRP traders, those valiant souls, found themselves in a most peculiar hour, where the numbers on the screen decided to play a cruel joke. According to CoinGlass, a staggering $412,000 in leveraged positions vanished, and the villains? The longs, as always. 😒

For comparison, the shorts, those timid souls, managed a mere $3,200, leaving a 13,600% imbalance that screams of chaos. The market, ever the dramatic actor, has once again shown its true colors. 🤡

The triggers? The XRP price chart, a stage for the drama. On the one-minute chart, the dip was as precise as a surgeon’s scalpel – from $2.425 down to $2.3817 in under an hour. With over 10 million XRP traded, most of it driven by forced liquidations, not active selling. 🩺

It was not panic, it was spot selling pressure on overleveraged futures positions. One could see bids vanish, candles thin out and the range that had been holding good for days finally give way without a fight, which is understandable in current extreme fear conditions. 🕯️

The structure behind the XRP futures collapse is a usual story this fall – overleveraged longs built up during the calm stretch above $2.40, thinking sell pressure has exhausted. When the wick hit, margin calls did the rest. 📉

What’s Next for XRP? A Tale of Greed and Despair 📈📉

This was not bears taking control, just traders paying for greed the same way they did near $1.95 earlier this year – too much size, too little patience, same ending. 🤷‍♂️

Now the liquidity sits lower, around $2.38 to $2.36, exactly where the next test should come. Unless new capital shows up to rebuild positions, XRP will likely drift sideways through the afternoon, trying to digest the wreckage left behind by that one brutal hourly candle. 🧟‍♂️

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2025-11-03 17:35