Advertisement
AD

Main navigation

Advertisement

XRP, SOL, ADA in Deep Red as Crypto Market Experiences 1,078% Liquidation

Mon, 7/04/2025 - 14:13
Staggering 1,078% spike in crypto liquidations has wiped out $1.44 billion
Advertisement
XRP, SOL, ADA in Deep Red as Crypto Market Experiences 1,078% Liquidation
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The crypto market is facing one of its most violent shakeouts in recent weeks, with major cryptocurrencies like XRP, Solana (SOL) and Cardano (ADA) recording significant losses.

Advertisement

A staggering 1,078% spike in crypto liquidations over the last 24 hours has wiped out $1.44 billion in positions, according to CoinGlass data, sending shockwaves across the digital asset space. Longs took the heavier hit, with $1.22 billion wiped out compared to $220 million in shorts.

Crypto liquidation refers to the process of forcibly closing a trader's positions on the cryptocurrency market. It occurs when a trader's margin account can no longer fund their open positions due to severe losses or a lack of sufficient margin to meet maintenance obligations.

Related

Advertisement

Bitcoin traders betting on higher prices lost more than $411 million, while those speculating on Ethereum (ETH) lost about $349 million. Futures tracking Solana's SOL and XRP experienced exceptionally significant total liquidations of $74.16 million and $70.98 million, respectively.

XRP, SOL, ADA in red as market sell-off escalates

Crypto majors are reeling from a wave of volatility, with XRP, Cardano (ADA) and Solana (SOL) falling below key technical levels early Monday.

Related

At press time, XRP had fallen 14.71% in the previous 24 hours to $1.77 and had slipped below its 200-day moving average — a key technical support level — increasing concerns about further declines to $1.75.

XRP, in the process, has breached the much-watched $2 level. This breakdown completes a bearish head-and-shoulders pattern, indicating probable additional downside.

SOL, meanwhile, temporarily fell below $100, representing a 64% decline from its all-time peak. At press time, SOL was down 14% in the previous 24 hours to $101.12.

Cardano's ADA is trading at 0.545, down 13.41% in the last 24 hours and on track for its third straight day of losses, with intraday lows of $0.51. Cardano is currently below its 50-day SMA, which had been a significant support for the price since mid-March. This move on the daily chart is part of a larger descending triangle pattern, implying that bearish pressure might persist.

Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD