u.today
33 m
According to data from the analytical platform Coinglass, $9.57 million in $XRP positions were liquidated across exchanges over the past 24 hours.
Long positions accounted for $9.27 million compared with just $299,997 in short liquidations.
On the shorter scale, $XRP liquidations amounted to $853,930, including $681,200 in long positions and $172,780 in shorts.
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On Friday, $XRP saw even bigger liquidations – $16.7 million in total, with $16 million in long liquidations. This event followed a massive market collapse on November 5, after the BTC price suddenly reversed its trend.
$XRP is currently trading at $1.16, down 1.81% over the past 24 hours, while its market cap has declined 1.75% to $72.7 billion.
$XRP's open interest is up only 1.4% over 24 hours, sitting at $1.37 billion. However, rising open interest does not automatically indicate that new bullish positions are being opened.
The trading volume has fallen 44.7%, which suggests limited recovery potential for today. In addition, $XRP ETFs recorded zero net flows on Friday.
The current price level is close to the local bottom. The weekly chart hints at a further downtrend with $1.15 serving as the last support before the path to $1.00 is cleared.
Breaking this last support could trigger a liquidation cascade, resulting in almost a million dollars of positions closed.
The immediate resistance level is at $1.20. Breaking above it will be a clear indicator of an uptrend.
