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XRP Longs Wipe Out $38M as Trump Rally Fades

Guavy AI Editorial Team Published August 26, 2026

Instruments

XRP

XRP longs suffered their biggest wipeout since October 2025 on August 22, with $38.58 million in liquidations.

The event was preceded by a Trump-driven crypto rally that encouraged heavily leveraged long positions.

Unlike the tariff-triggered market-wide sell-off in October, this time it followed optimism around Trump's crypto-policy push.

XRP futures open interest rebounded to $3.59 billion, above its pre-washout level of $3.44 billion.

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