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Those crypto enthusiasts involved in XRP trading just witnessed one of the most one-sided squeezes in recent memory, with short sellers carrying almost the entire weight of liquidations over the last four hours.
According to derivatives data from CoinGlass, $2.61 million worth of XRP positions were wiped out in that time period, but the split shows what really happened behind the scenes as barely $166,000 came from longs, while shorts accounted for $2.45 million.

That is a 1,475% imbalance that left the bearish side completely underwater.
Such an extreme gap rarely passes unnoticed on the market, and price history shows that when shorts absorb this scale of damage, the follow-up sessions often see a wave of new momentum longs entering to press the advantage until it is their time to get liquidated.
XRP price causes bullish disruption
The setup was a classic one, with the XRP price first drifting between $2.80 and $2.90, luring in traders who expected another dip. Yet instead of rolling lower, the market pushed up through resistance and forced a rush of liquidations in a quick spike.

If spot demand keeps pressing, the immediate zone to watch beyond $3 is $3.10, where several liquidation clusters remain untested.
Heading into U.S. trading hours, the main question is whether bulls can protect the $2.90 line. If that level holds with more short covering kicking in, the path toward a retest of $3 looks open, and today’s imbalance may be remembered as the spark that made bulls take the charge.