$XRP Liquidation Imbalance Hits 980%

The cryptocurrency market is experiencing a sell-off, with major assets trading in the red. $XRP has fallen by 3.82% in the last 24 hours and is on track to give up its weekly gains.

The sharp decline in XRP's price has led to a significant imbalance in liquidations, with longs (traders betting on further price increases) accounting for 980% of total liquidations. This means that nearly all the $11.99 million in liquidations came from traders who were bullish on XRP.

The $XRP Ledger is preparing for a busy October, with key updates set to launch. Investors are also looking ahead to a flurry of fresh economic data releases this week, which could influence Fed rate-cut bets and the broader market.