XRP Long Liquidations Reach $10.88 Million as Price Falls to $1.47

Summary

• XRP longs accounted for $10.88 million in liquidations as the token fell to $1.47, erasing nearly all its weekly gains.
• CoinGlass figures show bullish positions suffered nearly ten times the losses of shorts during the broader crypto market selloff Monday.
• Upcoming U.S. employment figures may influence market sentiment, while XRP holders also await scheduled October ledger upgrades and industry events.

XRP traders betting on a price increase lost $10.88 million in liquidations as the cryptocurrency fell to $1.47 during Monday’s market selloff. According to CoinGlass data, long positions accounted for most of XRP’s $11.99 million in liquidations. Short liquidations totaled $1.11 million, making the losses on bullish positions nearly 9.8 times larger.

XRP climbed to $1.62 on September 25 but recorded two consecutive daily losses over the weekend and fell further on Monday, catching traders positioned for a rebound. XRP dropped 3.82% over 24 hours, narrowing its seven-day gain to just 0.18% and erasing nearly all its weekly progress.

The pressure extended beyond XRP, with liquidations across the crypto market reaching $378 million, according to the reported CoinGlass figures. Several major cryptocurrencies also traded lower as investors weighed inflation concerns.

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XRP’s Price Reversal Hits Bullish Positions Hardest

Traders use long positions to profit from rising prices, often borrowing funds to increase their exposure. However, leverage also reduces the room those positions have to absorb a decline.

When XRP moved toward $1.47, exchanges closed positions that no longer met their margin requirements. Those closures produced the large gap between long and short liquidations.

The reported 980% imbalance describes the difference in the value of positions liquidated on each side. It does not establish how many individual traders lost money or show whether all XRP investors expect further declines.

Meanwhile, the distance between Friday’s $1.62 high and Monday’s $1.47 low illustrates the reversal confronting leveraged buyers. That $0.15 move amounts to a decline of roughly 9% from the earlier high.

Broader economic data could also influence trading this week, particularly the U.S. nonfarm payrolls report and unemployment rate. Investors use those figures to assess the economy and adjust their expectations for Federal Reserve interest rates.

October also brings several events linked to the XRP ecosystem, including XRP Seoul on October 3 and Ripple Swell from October 27 to 29. XRP Ledger amendments have proposed activation dates during the month, subject to the required validator support.

The liquidation figures place immediate pressure on bullish traders. XRP’s price decline closed far more long positions than short positions, while the wider crypto market fell.

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