XRP’s jump to a seven-year high price of $2.82 early Tuesday, and the subsequent correction to nearly $2.40, has propelled the Ripple-linked asset to the top of the crypto liquidations chart over the past 24 hours.

Liquidations of long and short positions tied to XRP totaled more than $90 million over the past day, per data from CoinGlass, becoming the top single asset for liquidations during that span. That’s a surprise on a list that is typically ruled by Bitcoin.

Because of XRP’s substantial swings during the day, long and short position liquidations are almost even on the chain, with over $44 million in longs and about $46 worth of shorts zapped in the process.

Several individual shorts in the range of $2.4 million to $2.6 million were liquidated on OKX early Tuesday. XRP is currently trading for $2.56, down 6% over the last day.

Bitcoin isn’t far behind on the list with $81 million in liquidations, followed by Go to Source to See Full Article
Author: Andrew Hayward