XRP prices have experienced a significant downturn today, shedding over 6% to reach $2.82. This decline is attributed to a surge in short positions and growing liquidation pressure. Coinglass data reveals that the XRP market has seen substantial liquidations amounting to $2.95 million, with shorts dominating this trend. Notably, long positions have also been liquidated at a rate of $2.89 million. 60,050 short positions indicate significant bearish sentiment, accelerating the price decrease. 30,500,600 XRP transferred to Coinbase has further fueled market speculation about potential market shifts. The overall decline in XRP’s market cap, down 5.86% according to CoinMarketCap, indicates growing investor caution. The impact of short positions and increasing liquidation pressures continue to negatively affect XRP’s price trajectory, leaving the market anticipating the next significant move.