XRP Longs Take a $16.2 Million Hit as Price Defends Key Support

XRP traders suffered $16.2 million in liquidations over 24 hours as the token pulled back toward its key support level at $1.38, with long positions accounting for 84% of the losses.

The decline came after XRP retreated from a recent high of $1.70, forcing exchanges to close undercollateralized leveraged positions.

Analysts are now focused on whether buyers can defend the $1.3798 Fibonacci level, which would preserve projected technical targets of $1.88, $4.11, and $7.07.