XRP Liquidity Imbalance Soars to 10.535% Amid Sharp Price Drop

XRP prices plummeted to $1.38 following a sharp drop, leading to a liquidity imbalance of 10.535%.

The sell-off was so severe that long positions in XRP were closed at a rate over 100 times faster than the losses incurred by short positions.

As prices rebounded to $1.3892, market attention shifted towards the $1.4010 resistance level.

Exchange data shows that open positions on KuCoin and Gate declined, while MEXC saw a massive increase in trading volume of 118.32%.