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Traders Who Bet Big on XRP Were in for a Nasty Surprise – And It Wasn’t Pretty

BBG News

Oh, the joy of leverage! XRP traders got a harsh lesson on what happens when a sudden twist of fate decides to turn your golden day into a nightmare.

In the span of just 12 hours, long positions on XRP were liquidated at a staggering 18 times the rate of short positions — $952,790 against a meager $52,800. That’s a mind-boggling 1805.7% imbalance. If that number doesn’t make your jaw drop, well, I don’t know what will. Talk about bad timing! 😬

The story behind the carnage is all too familiar: XRP had been on an upward march all day, hitting a glorious high of $2.31 after slowly creeping up from a humble $2.27. But just when the bulls thought they had the upper hand, the price made one last feeble attempt to push to $2.36, only to reverse sharply a few candles later. The bulls, of course, had no idea what hit them.

The hourly chart was a grim sight, with a series of red candles flashing like a beacon of doom. XRP’s quick descent to $2.29 triggered a cascade of liquidations as stop losses were hit and panic selling flooded the market. The wick at the top, where buying had been frenzied just moments before, made the whole situation worse. It’s like watching someone desperately trying to put out a fire with gasoline. 🙄

The real kicker? A whopping 94% of liquidations came from the long side. In other words, most traders were so confident in their bullish bets that they were blindsided when the price only had to fall a little bit to make their dreams implode. It’s the kind of market situation that makes you question your life choices, really.

And just in case you thought XRP was the only one getting hit, think again. In the same 12-hour period, the entire market saw $67 million in liquidations, with the longs again taking the brunt. ETH had its own drama, clearing $22.18 million, while BTC was also along for the ride with $6.02 million. But XRP? It was the star of this very sad show, with the damage happening so quickly that it left traders reeling.

So no, it wasn’t a crash. But for those who were caught off guard, it sure as hell felt like one. 💥

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2025-05-28 17:21

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