XRP Bloodbath: $32M Liquidated as Shorts Dominate 3,200% – What’s Next?
XRP traders got wrecked today—$32 million evaporated in liquidations as bears piled in with 3,200% more short positions. The squeeze was brutal, predictable, and oh-so-crypto.
Why the carnage? Market makers love a good liquidation party—it’s like harvesting dumb money with algorithmic combine harvesters. Meanwhile, retail ‘hodlers’ stare at screens, wondering if ‘this time it’s different.’ Spoiler: It’s not.
Where’s the bottom? Who knows. But one thing’s certain: in crypto, the house always wins—even when it’s a decentralized house with questionable plumbing.
XRP On a Slippery Slope as Investor Confidence Dips
Ripple’s XRP fell below $2 on Monday trading and is not at the crosshairs of a decline. Its price is now hovering around the $2 mark and stands at risk of dipping to $1.90. The conflict in Iran and the threat to block the Strait of Hormuz turned the broader Asian markets red today. India’s Sensex dipped more than 500 points while Japan’s Nikkei dropped 50 points. In addition, Singapore’s Strait Times index went low by 0.11% and the Philippines PSEI index fell 125 points.
The US stock market faces grim a prospect as the tensions in the Middle East is escalating. Crude oil prices, which were at $70 a week ago have shot up to $75 and are attracting bullish sentiments. Bitcoin also dipped to the $101,000 range and remains on a slippery slope. All these developments have also affected XRP making its price turn bearish as investors’ confidence is low. If it dips below the $1.90 range, a quick recovery will seem much harder than previously thought.
