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It took just an hour for XRP’s long-side crowd to be wiped out. The latest derivatives data from CoinGlass paints a stark picture — $1.29 million were closed within 60 minutes, with an almost comical split: $1.24 million from longs and just $54,950 from shorts.
Lean back to see the 24-hour view, and the picture is still one-sided: $14.83 million in XRP liquidations since yesterday, with $11.02 million from longs. Most of the damage occurred in the previous four hours, with $6.97 million in long contracts done and dusted versus $270,880 on the short side — clearly illustrating how quickly leverage is repriced when the market moves in the wrong direction.
Price action, too, is telling a story. XRP traded just above $3.20 after reaching $3.18, with a failed bounce that never reached a higher high.
On the five-minute chart, the structure resembles a descending staircase: lower highs through midday, minor base-building around $3.19-$3.20 and a ceiling at $3.24 that thwarted all recovery attempts.
XRP price outlook
This kind of price action does not require fireworks to trigger forced exits; a slow grind is enough when funding and leverage are doing the heavy lifting. The combination of slow drift and sudden liquidation shows how small slips can trigger oversized chain reactions in a quiet market, where the margins for leveraged exposure are thin.
Unless $3.24 is reclaimed and held for at least an hour, the path of least resistance will be a fake pop into the $3.23-$3.25 range to lure in new longs, followed by a drop to the $3.16-$3.17 range within the next 6-12 hours.
The script will only be flipped if the price per XRP closes above $3.26; this would unlock a fast squeeze into $3.30, where today's liquidations will finally meet their match.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team