The takeaway: XRP saw $221,000 in liquidations over four hours, with 74% hitting longs. But open interest rose on Binance, OKX, and Bybit over the same period, so short sellers didn’t exactly come out ahead either.
The current price is around $1.498, with a 24-hour high of about $1.525 and a low of about $1.484. Binance is down 1.47% and OKX is down 1.54%, with prices moving in sync on both exchanges.
The largest liquidation was an OKX XRP long worth $62,000, liquidated near $1.4907. It accounted for about 28% of total liquidations over four hours. This wasn’t a full-blown wipeout, but rather a round of long deleveraging.
XRP futures open interest is around $250 million, down slightly by 0.82% over 24 hours. But over four hours, open interest rose 1.10% on Binance, 1.56% on OKX, and 1.88% on Bybit. Positions are being reopened as prices pull back; the question is who will be forced to stop out first.
$XRP $BTC
Is this a long squeeze, or is the downtrend just beginning?
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