price XRP
-3.93%
Here are Larsen’s comments: post ZachXBT, a cryptocurrency investigator at
According to The Block’s pricing page, XRP fell 4.4% over the past 24 hours, falling to $0.50 at 10:30 a.m. ET.
XRP price fell more than 4%.
XRP liquidation surge
Due to the drop in XRP price, over $4 million worth of leveraged XRP positions were liquidated. Most of these leveraged positions were long positions, resulting in a loss of approximately $3.8 million.
Total liquidation volume across all leveraged cryptocurrency positions in the last 24 hours reached $150 million, according to Coinglass data. Most liquidations were through purchases, with $113 million liquidated and approximately $36 million coming from liquidated short positions.
In derivatives markets, liquidation occurs when a trader’s position is forced to close due to insufficient funds to cover losses. This situation occurs when market movements are against the trader’s position and the initial margin or collateral is depleted.
Bitcoin price fell 1.6% over the past day. It was trading at $42,916 at 10:30 a.m. ET.
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