A surprising price correction has left XRP traders facing significant losses, with a substantial 182% liquidation imbalance emerging in the market. According to data from CoinGlass, over $7.95 million worth of open positions on XRP futures were liquidated following the recent downturn, primarily affecting long-term holders who had anticipated price gains exceeding $2.40-$2.50. The decline led short traders to lose an additional $312,760 within this timeframe. ))
As of press time, XRP is trading at $2.23, reflecting a 3.57% decrease in the past 24 hours. This downturn has also impacted investor sentiment as trading volume has dipped by 4.71%, to $2.8 billion for the same period.
Despite this short-term volatility, the XRP ecosystem remains optimistic about a sustained price rally in the near future. The potential for an XRP surge beyond the psychological $3 level is being actively discussed, with predictions of XRP reaching $3.20 in the near term. Proponents also point to possible bullish momentum driven by institutional adoption and the prospect of regulatory approval for an XRP-based ETF from the SEC.
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