Massive XRP Long Liquidations: $17.73 Million Wipeout Signals Market Shakeup

On October 6, 2025, the XRP derivatives market experienced a significant liquidation event that wiped out an estimated $17.73 million in leveraged long positions. Community analyst Chad Steingraber highlighted this notable event, which followed the price of XRP surpassing $4,500. According to Steingraber’s analysis, the liquidations occurred at a time when XRP was trading at around $2.885 and were followed by an immediate shift in market flow. Steingraber also noted that net inflows into XRP positions had already rebounded to $5.82 million within a short timeframe, suggesting renewed interest from traders following the event.