{"id":607181,"date":"2024-05-09T15:00:17","date_gmt":"2024-05-09T15:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=607181"},"modified":"2024-06-11T11:04:24","modified_gmt":"2024-06-11T11:04:24","slug":"6350-spike-xrp-long-liquidations","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/6350-spike-xrp-long-liquidations\/","title":{"rendered":"What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?"},"content":{"rendered":"

The bulls have<\/span> continued to take a beating<\/span><\/a> in the market, and XRP bulls, in particular, were recently in the spotlight as $1.27 million was liquidated from their long positions. This 6,350% spike in long liquidations is likely due to <\/span>XRP\u2019s recent price action<\/span><\/a>, highlighting the general sentiment in its ecosystem.\u00a0<\/span><\/p>\n

$1.27 Million In Longs Get Liquidated<\/h2>\n

Data<\/span><\/a> from Coinglass shows that $1.27 million in long positions have been <\/span>liquidated<\/span><\/a> in the last 24 hours. This is massive in comparison to the $19,220 liquidated in short positions during this period. This occurrence was likely due to the 3.85% drop in XRP\u2019s price, as the crypto token dropped to as low as $0.51 in the last 24 hours.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million<\/a><\/div>\n

XRP\u2019s price decline during this period is believed to have been caused by the sharp correction in Bitcoin\u2019s price, with the flagship crypto dropping <\/span>below $62,000 again<\/span><\/a>. However, there also seems to be a bearish sentiment in the XRP ecosystem, as data in the <\/span>XRP derivatives market <\/span><\/a>shows that trading volume has dropped by over 26%.\u00a0<\/span><\/p>\n

Meanwhile, options trading volume has also dropped by over 46%. These figures suggest that XRP investors are choosing to remain on the sidelines, seeing as the bears look to have the upper hand at the moment. However, the bright spot is that there has been an uptick in <\/span>open interest<\/span><\/a>, which means some bulls are still willing to bet on the crypto token.\u00a0<\/span><\/p>\n

These bulls might have a good reason to gamble on the crypto token, seeing as crypto analysts are predicting significant moves for XRP. Specifically, crypto analyst Jonathan Carter recently predicted that XRP could rise to $0.93 and further to $1.68. There is also the feeling that a rally is long overdue for XRP and could be anytime soon.\u00a0<\/span><\/p>\n

When The XRP Rally Could Come<\/h2>\n

An XRP rally could be on the horizon with the legal battle between the <\/span>Securities and Exchange Commission (SEC)<\/span><\/a> and Ripple almost coming to an end, <\/span>with a ruling<\/span><\/a> expected soon enough. Crypto analyst JackTheRippler <\/span>predicted<\/span><\/a> that the crypto token could rise to as high as $100 once this case ends.\u00a0<\/span><\/p>\n

Related Reading: Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000<\/a><\/div>\n

While this price level is undoubtedly ambitious, XRP could still make a significant move to the upside, considering that it also enjoyed an upward trend on the back of <\/span>Judge Analisa Torres\u2019 ruling<\/span><\/a> that the crypto token wasn\u2019t a security.\u00a0<\/span><\/p>\n

At the time of writing, XRP is trading at around $0.51, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"XRP<\/p>\n

Token price drops to $0.5 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Coinpedia, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The bulls have continued to take a beating in the market, and XRP bulls, in particular, were recently in the spotlight as $1.27 million was liquidated from their long positions. This 6,350% spike in long liquidations is likely due to XRP\u2019s recent price action, highlighting the general sentiment in its ecosystem.\u00a0 $1.27 Million In Longs Get Liquidated Data from Coinglass shows that $1.27 million in long positions have been liquidated in the last 24 hours. This is massive in comparison to the $19,220 liquidated in short positions during this period. This occurrence was likely due to the 3.85% drop in XRP\u2019s price, as the crypto token dropped to as low as $0.51 in the last 24 hours.\u00a0 Related Reading: Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million XRP\u2019s price decline during this period is believed to have been caused by the sharp correction in Bitcoin\u2019s price, with the flagship crypto dropping below $62,000 again. However, there also seems to be a bearish sentiment in the XRP ecosystem, as data in the XRP derivatives market shows that trading volume has dropped by over 26%.\u00a0 Meanwhile, options trading volume has also dropped by over 46%. These figures suggest that XRP investors are choosing to remain on the sidelines, seeing as the bears look to have the upper hand at the moment. However, the bright spot is that there has been an uptick in open interest, which means some bulls are still willing to bet on the crypto token.\u00a0 These bulls might have a good reason to gamble on the crypto token, seeing as crypto analysts are predicting significant moves for XRP. Specifically, crypto analyst Jonathan Carter recently predicted that XRP could rise to $0.93 and further to $1.68. There is also the feeling that a rally is long overdue for XRP and could be anytime soon.\u00a0 When The XRP Rally Could Come An XRP rally could be on the horizon with the legal battle between the Securities and Exchange Commission (SEC) and Ripple almost coming to an end, with a ruling expected soon enough. Crypto analyst JackTheRippler predicted that the crypto token could rise to as high as $100 once this case ends.\u00a0 Related Reading: Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000 While this price level is undoubtedly ambitious, XRP could still make a significant move to the upside, considering that it also enjoyed an upward trend on the back of Judge Analisa Torres\u2019 ruling that the crypto token wasn\u2019t a security.\u00a0 At the time of writing, XRP is trading at around $0.51, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Token price drops to $0.5 | Source: XRPUSDT on Tradingview.com Featured image from Coinpedia, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,83637,13172,10972,78763],"class_list":["post-607181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nWhat Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?<\/title>\n<meta name=\"description\" content=\"The XRP bulls have continued to take a beating in the market, and were recently in the spotlight as $1.27 million was liquidated\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?","url":"http:\/\/wncen.com\/news\/ripple\/6350-spike-xrp-long-liquidations\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/6350-spike-xrp-long-liquidations\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/XRP.jpeg?resize=200%2C162","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/XRP.jpeg?fit=311%2C162"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp news","xrp price","xrpusd","xrpusdt"],"dateCreated":"2024-05-09T15:00:17Z","datePublished":"2024-05-09T15:00:17Z","dateModified":"2024-06-11T11:04:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/6350-spike-xrp-long-liquidations\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/6350-spike-xrp-long-liquidations\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/XRP.jpeg?resize=200%2C162\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/XRP.jpeg?fit=311%2C162\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp news\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-05-09T15:00:17Z\",\"datePublished\":\"2024-05-09T15:00:17Z\",\"dateModified\":\"2024-06-11T11:04:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/XRP.jpeg?fit=311%2C162","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607181"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=607181"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/607199"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}