A shocking event unfolded in the XRP market today as long positions were wiped out within a single hour, causing a dramatic price downturn. CoinGlass data reveals that long liquidations surged to $3.27 million, marking an unprecedented 36,283% imbalance compared to short liquidations of just $9,040. While total XRP liquidation volume wasn’t the highest amongst altcoins over the past 24 hours, the extreme disparity between long and short positions sent shockwaves through the market. Analysts believe this aggressive selling pressure resulted from leveraged positions held by traders being exposed to automated liquidation protocols as prices moved sharply against them.