Citing Bitjie, XRP traders faced $701,690 in liquidations within four hours, with short positions losing $690,370, leading to a 5,999% imbalance between short and long positions. The extreme imbalance indicates a short squeeze, as liquidated short sellers were forced to buy, pushing the price up to $2.45. Despite the liquidation peak, XRP's price remained at $2.44, down 0.55% for the day, with trading volume dropping 23% to $4.07 billion. Analysts noted that such imbalances often signal a 20% to 50% price increase and warned against using high leverage during market volatility.
XRP Short Squeeze Reaches 5,999% Imbalance, Price May Rebound
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