Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Fear grips XRP markets as liquidation reaches $6 million.
EXCHANGE NEWS

Fear grips XRP markets as liquidation reaches $6 million.

By Crypto FlexsApril 4, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Fear grips XRP markets as liquidation reaches  million.
Share
Facebook Twitter LinkedIn Pinterest Email

Cryptocurrency markets continue to feel the tremors of the brutal April Fools’ Day price crash, with XRP taking a major hit. According to Coinglass data, a whopping $6 million worth of XRP contracts were liquidated in the last 24 hours. This liquidation frenzy may be due to the sharp price decline of XRP on April 1st.

The new month started with XRP trading around $0.61. However, the domino effect triggered by Bitcoin’s plunge below $67,000 sent shockwaves through the market, sending XRP down along with other major cryptocurrencies.

A closer look at the liquidation data reveals a clear trend. A whopping $5.6 million of the liquidated contracts were long positions, indicating that traders who had bet on XRP’s price rising were kicked out of their positions. Conversely, the liquidation value of short positions that benefit from falling prices was significantly lower at $324,200.

Market Preparation: XRP’s Uncertain Path

Interestingly, the situation in the spot market, where actual cryptocurrency is traded, was contrasting. XRP’s trading volume surged nearly 60% during the same period that this large liquidation occurred.

A surge in volume may suggest increased buying activity, but a closer look shows that selling pressure is dominant. Price action suggests that a significant portion of this volume resulted in selling rather than accumulation.

XRP price down in the last week. Source: CoinMarketCap

The trend of increasing volume coupled with falling prices suggests that XRP’s downward momentum may continue. If this selling pressure continues to diminish, analysts predict that the price of XRP is likely to fall towards the $0.55 support level.

In these circumstances, the future of XRP appears uncertain. Tokens face the risk of being caught in a market carnage. However, it is important to acknowledge opposing viewpoints. Some analysts take a different view and predict a potential near-term upside for XRP with a target price of $0.74.

Bitcoin is now trading at $66.117. Chart: TradingView

XRP’s stable funding rate amid bearish mood

Meanwhile, amid bearish sentiment, technical analysis shows glimmers of optimism. Despite the high liquidation value, XRP’s funding ratio has remained stable. Put more simply, a positive funding ratio means that traders holding long positions (expecting prices to rise) are currently paying a premium to traders holding short positions (expecting prices to fall).

Source: Coinglass

This can be interpreted in two ways. This may suggest that some traders still believe in a potential XRP price increase, or it may indicate that short sellers are willing to pay a premium to maintain their bearish positions.

Related Read: Shiba Inu Suffers 4,000% Burn – Is a Price Rebound Coming?

According to NewsBTC’s analysis, XRP’s funding ratio is currently at 0.030, slightly higher than the expected ratio of 0.029. If the funding rate is positive while the price continues to fall, those holding long positions may not receive their usual funding payouts. This scenario could further exacerbate the bearish bias and empower aggressive sellers.

Featured image from Pexels, chart from TradingView

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025
Add A Comment

Comments are closed.

Recent Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025
Most Popular

Why Ethereum (ETH) is falling behind Bitcoin? Major report explains ETH’s struggles

September 9, 2024

The Polkadot community supports SnowBridge for seamless Ethereum integration.

April 26, 2024

DeFi lender Moonwell enables USDC lending across Ethereum.

February 14, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.