A highly unusual spike in liquidation imbalance has been experienced by XRP, with the long-to-short ratio exploding by 8,466% over a 12-hour period. This spike was primarily driven by liquidations concentrated in long positions, exposing a surprising and no less dramatic turn in trader positioning and risk exposure.
According to the CoinGlass heatmap, XRP saw $514,600 in total liquidations during this time. Of that, an overwhelming $508,040 came from long positions, while shorts contributed just $6,565 — one of the most disproportionate liquidation events of the day.
It is interesting that all this happened in the context of relatively minor price movements. During the same 12-hour period, XRP traded within a narrow range, opening near $2.14998 and closing around $2.15417. The price went up a bit to $2.15758, then dropped back.
Overall, the XRP price posted a small net gain of just 0.20%, which is a far cry from the scale of long-side liquidations triggered.
Meanwhile, the liquidation activity coincided with wider market turbulence, with total 12-hour liquidations across all assets reaching $36.40 million. For context, Ethereum saw the highest amount of liquidations at $6.56 million, followed by Bitcoin at $3.25 million. XRP’s liquidation spike was notable not because of its volume but because of the one-sided nature of the structure.
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The big loss on long positions suggests that traders might have been caught off guard by a small price drop, which led to stop-outs across highly leveraged long contracts. The limited short liquidations suggest the market was heavily biased toward bullish expectations, which proved unsustainable even with XRP largely holding its ground.
