u.today
Traders betting short on $XRP have suffered huge losses within the last 12 hours as the liquidation imbalance soared by 1,278%. The liquidation comes as price climbed by over 4% amid a broader market recovery in the crypto space.
$XRP short sellers face heavy losses as price rebounds
Per CoinGlass data, a total of $2,630,000 was wiped out as $XRP recorded a bullish recovery. The development continues a week of intense liquidation as the price continues to move toward recovery despite the prevailing volatility.
$XRP made a rebound move as global trade began to see steady relief. Additionally, the leading digital asset, Bitcoin, has also surged above $71,000, pulling altcoins along in the rise.
$XRP jumped from a low of $1.30 to a daily peak of $1.39 in the last 24 hours. As of this writing, $XRP exchanges hands at $1.38, representing a 5.19% increase within the time frame. The price uptick has triggered increased engagement among traders, with volume spiking by 84.06% to $2.93 billion.
Although the market suggests a bullish outlook, market participants remain cautious as they watch the $1.40 to $1.42 resistance zone. The ability of $XRP to breach this crucial level could confirm stronger upward momentum.
However, if the current bullish sentiment fails to push the coin’s price up, it might retest the $1.30 support.
In the liquidation that occurred within the last 12 hours, long position traders also suffered a mild loss of $190,830.
Generally, the $XRP’s space has some events that are also fueling upward momentum. Notably, at the $XRP Tokyo 2026 conference, Ripple projected $33 trillion in on-chain stablecoin volume by the end of 2026. The projection sparked bullish sentiment among investors in the community.
Institutional demand and industry events fuel $XRP sentiment
Meanwhile, a recent report from CoinShares shows that institutional investors are favoring $XRP.
In an inflow of $224 million in the crypto sector, $XRP led the inflows with 53% of the total volume, or $$119.6 million.
In another development, $XRP has flipped Bitcoin, Ethereum, Solana and Dogecoin in exchange-traded fund (ETF) flow. Within the last 48 hours, $XRP ETF saw a net inflow of about $3.3 million, while Bitcoin and Ethereum ETFs saw outflows of $159 million and $64 million, respectively.
It is worth mentioning that $XRP also recorded some losses as average wallets dropped to a new low last seen in 2022. The wallet count dropped by an average of -41% on their investments.