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Crypto

Crypto Liquidations Soar to $588M as XRP's Price Rally Ends in Correction

Guavy AI Editorial Team
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BTC XRP DOGE DOG
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Crypto liquidations have reached $588 million, driven by the sudden price swing of XRP to a 7-year high at $2.82 yesterday.

The rally was followed by a correction, with XRP trading at $2.40, leading to a liquidation storm in XRP, Bitcoin (BTC), and Dogecoin (DOGE).

XRP led the liquidations chart, with both long and short positions exceeding $90 million in 24 hours.

The price swing yesterday resulted in the liquidation of individual short positions worth up to $2.6 million on the OKX crypto exchange.

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