XRP Sees $3.27M Liquidations in One Hour as Price Takes a Hit
An unexpected surge in selling pressure resulted in the broader crypto market turmoil, including an XRP price crash. The crypto assets were making significant gains hours earlier, with the Bitcoin price rallying to $107k. However, the shift in investors’ sentiments resulted in this sudden decline, bringing $3.27M in liquidation for the Ripple token in just one hour. Let’s discuss. XRP Price Crash Results in $3.27M Long Liquidations The Ripple token has witnessed an exceptionally serious liquidation event, losing $3.27M in long positions with the XRP price decline. Interestingly, this rate is 36,283% higher than the short positions, revealing that bullish traders were massively affected. Besides, only $9,040 worth of shorts were liquidated in this period, whereas $3.27M were in the long, per CoinGlass reports. This is because short traders actually bet on the price decline, so they avoided liquidation and instead profited from the dip. Experts showed concerns about this… Read More at Coingape.com
The post XRP Sees $3.27M Liquidations in One Hour as Price Takes a Hit appeared first on CoinGape.
