XRP Shocks Bears with 51,209% Liquidation Imbalance as Price Reclaims $2.98
XRP rockets 51,209% in abnormal liquidation imbalance as bulls take charge.
- Over 51,209% — a rare and stunning wipeout almost entirely skewed against bears.
The crypto market saw over $337 million in liquidations, according to CoinGlass, but XRP stood out with a liquidation footprint of $415,610 in the last hour.
According to real-time data, almost the entire XRP liquidation volume was concentrated on the short side. Longs were almost untouched at just $812.87, while short positions lost a shocking $414,800 - a ratio that translates to a liquidation imbalance of over 51,209%.
- Price reaction. XRP rebounded from a dip below $2.95.
While shorts were being wiped out, the XRP price climbed higher, reclaiming the $2.98 level after rebounding from a local dip under $2.95. The spot chart shows a sharp but calculated climb, with barely any slippage on the way up.
- Bear Trap.The liquidation profile suggests many traders expected a breakdown that never came.
This kind of liquidation profile usually means forced exits at price points that cannot be defended, suggesting that many expected a breakdown that never came. Instead, XRP shot up, probably causing a chain reaction of stops. With everyone's attention on Bitcoin and Ethereum, XRP's move was pretty under the radar - but that might not last.
Strategy's Saylor Issues One-Word Verdict for Bitcoin
Michael Saylor channels his inner dude from "Big Lebowski" in new one-word Bitcoin verdict.
- Saylor speaks. The CEO of Strategy and legendary Bitcoin bull, posted a simple message.
Michael Saylor, the executive chairman of Strategy and probably the most vocal Bitcoin evangelist, let a single word do the talking today - and the market's listening. In the post, Saylor was shown dressed like "The Dude," wearing a robe. He wrote, "Bitcoin Abides" as the caption.
- Strategy’s Bitcoin bet. Total BTC Holdings: 601,550 BTC.
The newest numbers show that Strategy now has 601,550 BTC, which is about $71.3 billion. Since June 1st, they've added over 20,000 coins, with summer buying picking up every week, except when there were no purchases. The latest update, dated July 14, shows another 4,225 added, just as Bitcoin started testing $120,000 again.
Cardano Founder Issues Scam Warning
Charles Hoskinson makes it very clear when talking about scammers.
- Scam accusations
The founder of Cardano, Charles Hoskinson, has issued a direct warning after being publicly accused of being involved in a scam by an internet user. He claims that this accusation is not only unfounded but also, sadly, widespread.
- Robin Engraf claims
The event started when a person named Robin Engraf sent Hoskinson an email alleging that Gabriel Martin, an employee of Input Output had embezzled funds while pretending it was a trade withdrawal.
Engraf maintained that he had contact with the employee and months worth of chat logs and bank records for U.S. authorities to take action.
- Hoskinson’s response
“Does anyone want to tell Robin that he got scammed by someone over the internet and now he's blaming a multi-billion dollar company for his carelessness and stupidity?” was Hoskinson's unapologetic response.
He continued by emphasizing how readily people fall for get-rich-quick schemes and how they frantically look for someone else to blame when reality sets in.
Vladislav Sopov
U.Today Editorial Team