XRP’s price movement has left short position traders leading a liquidation imbalance of 1,190% within the last four hours. As per CoinGlass data, traders betting short on XRP were wiped out, losing $112,260 within this period as XRP recorded an uptick in price.
XRP bearish positioning backfires after prolonged downtrend
XRP has been on a downward spiral in the last 30 days, losing over 25.90% as the cryptocurrency market sentiment falls. Within the last seven days, the coin has shed over 2.05% of its value as well. This likely prompted the bearish bet on XRP by traders in the space.
However, the slight upsurge witnessed in the price of XRP triggered the mild losses that short position traders suffered in the last four hours.
Long position traders were not spared as they suffered an almost negligible loss of $8,700 within the same time frame. The price volatility of the coin has left both short and long position traders with varying degrees of losses.
With XRP still trading below the key price level of $1.5 and its major resistance of $1.89 and $2, the coin’s volatility risk remains a huge source of concern to investors. The current slight upward movement came as institutional interest pushed XRP exchange-traded fund (ETF) inflows to $4.05 million.
This reflected an over 80% jump in inflows, reversing its previous decline. If the institutional demand continues, XRP might sustain its price rebound move in the crypto market.
As of this writing, XRP was changing hands at $1.43, which is a 2.38% increase in the last 24 hours. Earlier, XRP jumped from $1.38 to a peak at $1.44 before a slight drop. Its trading volume has also climbed by 3.91% to $2.32 billion within this period.
The development suggests a possible rebound amid renewed interest in the coin. How this can sustain its upward journey would depend on sustained interest from market participants.
Ripple executive lauds XRP’s performance
XRP’s chances of a continued bullish climb face stiff opposition from its Bollinger Bands signal. Notably, the current setup suggests pressure is building at crucial levels.
The bearish outlook remains, and it would require a strong rally to maintain its upward climb.
Despite the outlook of XRP, Ripple CEO Brad Garlinghouse has picked the asset as the best-performing crypto amid the current market correction. Garlinghouse claimed XRP has been able to weather the crypto storm better than other leading coins in the ecosystem.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP ETF attracts over $19 million, with AUM approaching $1.1 billion. Why does the price still hover around $1.40?
Despite XRP price pressure, investors remain interested in XRP ETFs, with approximately $19 million flowing in over the past week and total assets nearing $1.1 billion. However, XRP trading prices are still more than 60% below their all-time highs, and market sentiment remains cautious. Analysts point out that the influence of XRP ETFs is far less than that of Bitcoin ETFs. Overall, XRP's future performance is closely tied to market sentiment and Ripple's technological applications.
GateNews1m ago
XRP stabilizes at $1.40, oil prices retreat, and the CLARITY bill boosts the market
On Friday, XRP price remained stable at $1.40, driven by falling oil prices and Ripple CEO's support for the CLARITY Act. The decline in oil prices eases inflationary pressures and helps risk assets perform. The bill could boost exchange confidence, encourage institutional participation, and promote product development. XRP funding rates turned negative, indicating a concentration of short positions, and a comprehensive assessment is needed to determine the short-term trend.
MarketWhisper39m ago
Elon Musk Unveils X Money Beta, Sparking XRP Integration Speculation as Token Tests $1.50
Elon Musk has revealed the beta launch of X Money, a payment platform integrated into the X social media network, with initial interface screenshots showing features for sending and receiving funds, direct deposit, and yield-bearing accounts.
CryptopulseElite3h ago
XRP Holds $1.40 as Bitcoin Rally and ETF Inflows Lift Crypto Market
Key Insights
XRP maintained support above $1.40 as the broader market rebounded, while strong inflows into Bitcoin ETFs helped restore trading confidence.
Bitcoin surged beyond $74,000 alongside gains in major altcoins, lifting total crypto market value close to $2.45 trillion in one
CryptoFrontNews5h ago
XRP Today's News: Musk X Money Beta Released, Sparks On-Chain Integration Speculation
Elon Musk's X company has launched a beta version of the X Money payment system, allowing users to transfer and manage funds, sparking widespread discussion about XRP integration. Although there are no official plans for cryptocurrency integration at the moment, the market is generally optimistic. Analysts believe that XRP has design advantages for payments, especially with improved regulatory environments, making it more promising. However, the practicality of stablecoins is also under scrutiny. XRP is currently testing the $1.50 technical resistance level. If successfully broken through, it could trigger further gains.
MarketWhisper5h ago
Ripple's "dark road" connects to Wall Street's core—Is XRP's spring coming?
Ripple, through the acquisition of Hidden Road and gaining eligibility to participate in DTCC, has become part of the core clearing system of the U.S. financial markets. This marks that it is no longer an outsider to traditional finance and is integrating crypto assets with financial infrastructure. Despite challenges such as regulation and trust, Ripple's strategic positioning suggests that XRP could become a key asset for institutional-level settlements in the future.
PANews6h ago
