XRP Bulls Face $2M Liquidations Amid Ripple Mint Fears

XRP bulls faced significant pressure in recent days, with over $2 million in liquidations recorded within a 24-hour period. The majority of this selling pressure came from leveraged long positions, which lost nearly $2 million.

This comes as XRP trades near key support levels around $1.06-$1.10, with declining volume and market capitalization. The introduction of Ripple Mint, a platform for institutional use of RLUSD stablecoin, has raised concerns that growing RLUSD adoption may not directly boost XRP demand, as institutions can utilize RLUSD without purchasing XRP.

This dynamic, combined with technical weakness and reduced trading activity, has kept XRP under pressure and vulnerable to further volatility until a clear market catalyst emerges.