4% XRP Dip Could Trigger $60 Million Bull Bloodbath
The post 4% XRP Dip Could Trigger $60 Million Bull Bloodbath appeared on BitcoinEthereumNews.com. A critical zone for XRP traders Major liquidations on Bybit, Binance, and OKX XRP, the cryptocurrency tied to Ripple Labs, is currently trading at $2.12, according to CoinMarketCap data. While the token has recorded an 11.36% gain over the last 30 days, this upward momentum could be setting the stage for sharp volatility. Source: CoinMarketCap Fresh data from Coinglass reveals that over $60 million in long positions could be wiped out if XRP drops by just 4%, reaching $2.063. In leveraged trading, long positions represent bullish bets that a cryptocurrency’s price will continue rising. If the price moves too far in the opposite direction, the platform automatically liquidates these positions to prevent further losses, a process known as forced liquidation. The XRP liquidation map shows a high density of long positions between $1.90 and $2.10, marking it as a critical zone for traders. Source: Coinglass If XRP breaches $2.063, it could spark a cascade of liquidations totaling nearly $64.24 million, making it one of the most significant XRP liquidation events in recent months. A critical zone for XRP traders This represents a drop of 4% from XRP’s current price. This region of possible liquidation is a critical price zone as large liquidations at this level could further push down prices, even if it is for a brief period. Hence, traders and analysts often monitor these levels closely. In crypto circles, this type of event is called “stop hunt” or “liquidity sweep,” where the price drops to a level that triggers these liquidations before rallying again. You Might Also Like Should the Ripple-linked cryptocurrency breach the $2.063 price, it would result in one of the largest XRP liquidation events in recent months. Major liquidations on Bybit, Binance, and OKX Meanwhile, the Coinglass data also showed the platforms that would be most…
The post 4% XRP Dip Could Trigger $60 Million Bull Bloodbath appeared on BitcoinEthereumNews.com.
A critical zone for XRP traders Major liquidations on Bybit, Binance, and OKX XRP, the cryptocurrency tied to Ripple Labs, is currently trading at $2.12, according to CoinMarketCap data. While the token has recorded an 11.36% gain over the last 30 days, this upward momentum could be setting the stage for sharp volatility. Source: CoinMarketCap Fresh data from Coinglass reveals that over $60 million in long positions could be wiped out if XRP drops by just 4%, reaching $2.063. In leveraged trading, long positions represent bullish bets that a cryptocurrency’s price will continue rising. If the price moves too far in the opposite direction, the platform automatically liquidates these positions to prevent further losses, a process known as forced liquidation. The XRP liquidation map shows a high density of long positions between $1.90 and $2.10, marking it as a critical zone for traders. Source: Coinglass If XRP breaches $2.063, it could spark a cascade of liquidations totaling nearly $64.24 million, making it one of the most significant XRP liquidation events in recent months. A critical zone for XRP traders This represents a drop of 4% from XRP’s current price. This region of possible liquidation is a critical price zone as large liquidations at this level could further push down prices, even if it is for a brief period. Hence, traders and analysts often monitor these levels closely. In crypto circles, this type of event is called “stop hunt” or “liquidity sweep,” where the price drops to a level that triggers these liquidations before rallying again. You Might Also Like Should the Ripple-linked cryptocurrency breach the $2.063 price, it would result in one of the largest XRP liquidation events in recent months. Major liquidations on Bybit, Binance, and OKX Meanwhile, the Coinglass data also showed the platforms that would be most…
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