XRP Liquidations Reach $11.99 Million as Longs Dominate
Long positions accounted for $10.88 million of XRP liquidations over 24 hours, compared with $1.11 million for shorts, during a Sept. 28 crypto-market selloff.
XRP liquidations reached $11.99 million over a 24-hour period during a broader cryptocurrency-market selloff on Sept. 28, with bullish positions absorbing most of the forced closures.
Long positions accounted for $10.88 million of the total, while short positions contributed $1.11 million. The amounts were about 9.8 times apart, while the reported breakdown was characterized as an approximately 980% long-to-short imbalance.
XRP fell to a reported low of $1.47 after reaching $1.62 on Sept. 25. The token was down 3.82% over 24 hours but remained up 0.18% over seven days at the time of the reading.
Liquidation occurs when a leveraged trading position is forcibly closed after the account can no longer meet margin requirements. A long position benefits from rising prices, so a sharp decline can trigger forced closures across leveraged bullish trades.
The broader cryptocurrency market recorded $378 million in liquidations during the same period. The latest figures follow an earlier report on a separate 1,522% long-side XRP liquidation imbalance, with different totals reflecting separate measurement windows and data sets.
