Conclusion first: During this XRP rally, shorts were squeezed first. Four-hour liquidations were $566,000, with 80% coming from shorts; however, open positions are still being stacked higher.
XRP is currently trading at $1.539, up about 3.7% over the past 24 hours. Binance and OKX quotes and percentage gains are basically in sync across the board. Total open interest across the network is $2.59 billion, up 3.04% day-over-day, and leveraged capital has not exited.
Four-hour short liquidations totaled $455,000, accounting for 80.5%; in the most recent hour, $367,000 was almost entirely shorts. The largest single order was a 44,700 XRP short on Binance, which was cleared around $1.5538 as the sell-off was squeezed. The downside chase positions are being lifted away.
Most funding rates are positive. Binance, OKX, and Bybit are all near 0.01%, and longs pay once every 8 hours. With price rising and longs adding while shorts get continuously wiped out, the short-term bias is bullish—but be mindful of a washout after a crowded long side.
$XRP $BTC
Do you think XRP can squeeze shorts further, or will the long side get shaken out first?
View in real time: https://www.coinboss.com/currencies/XRP