Extreme XRP long wipeout
XRP skyrockets in record liquidation imbalance as bulls get brutally crushed.
- Unprecedented Imbalance. CoinGlass data showed a 101,445% liquidation skew between longs and shorts.
For the second time this week, the XRP derivatives market dropped a number the market has not seen before. In one single hour, the liquidation tracker by CoinGlass showed an imbalance of 101,445% between long and short positions. Unsurprisingly, almost the entire hit landed on the bullish side.
The math beyond the wipeout is brutal: $4.21 million worth of longs received margin call, and the shorts barely registered at $4,150. That is what built the unprecedented skew, not the biggest wipe in dollars, but the display of how crowded the long trade around XRP had become.
- Price reaction. XRP failed multiple times at $2.88 resistance.
XRP headed toward $2.83 after failing multiple times to stick above $2.88, with pressure stacking up through the afternoon session. Across the market, liquidations over the last 24 hours cleared more than $475 million. Ethereum alone erased $10.81 million in the latest wave, Bitcoin lost $5.81 million and Solana saw $1.82 million flushed out. Longs accounted for $403 million of the total, shorts just $72 million.
Bitcoin death cross setup
Bitcoin death cross may be brutal.
- Death cross signal. The 23-day MA (green) is bending into the 50-day MA (blue).
Bitcoin just lined up one of the ugliest signals you can get on a price chart — a death cross. The 23-day moving average (green) is bending down into the 50-day (blue), and the two are about to collide.
If that cross confirms, it usually means buyers lost the wheel, and the price gets dragged lower until it hits the next major anchor. Right now, that anchor is the 200-day line at $100,483.
- Next anchor. The 200-day MA sits at $100,483.
The danger here is not just another dip; it is the market gravitating toward the 200-day, the one line that always pulls the price back when shorter averages roll over. A move down to $100,000 would not be some freak event but simply the math of the chart doing its job. That level also wipes out almost the entire summer run, putting the whole bull narrative under heavy scrutiny.
Shiba Inu burn rate spikes despite weekly decline
Massive amount of meme coins transferred out of circulation.
- Daily burn surge. SHIB burns soared by 2,196.63% in 24 hours.
Blockchain wallet tracker Shibburn has shared a recent update regarding the recent transactions to dead-end wallets on its website. A four-digit increase in token burns has been achieved after the recent activity of the SHIB community.
SHIB burns jump 2,196% Data published by the aforementioned source has revealed that over the past 24 hours, the community of the second-most-popular meme coin, SHIB, has managed to dispose of a significant amount of tokens. Within the past day, they have transferred 1,606,561 Shiba Inu to unspendable blockchain addresses.
This led to an increase of 2,196.63% in this metric. The largest amount of SHIB burned has been 1,192,392 SHIB. As for weekly burns, a recently published tweet shows a 29% tumble here, while a lot more coins have been torched — 72,264,101 SHIB.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team