XRP Price Plummets to $1.42 as $20 Million in Long Positions Get Wiped Out

XRP's recent rally has come to an abrupt end as the token's price slipped to $1.42 following a sharp derivatives-driven pullback.

The retreat was triggered by heavy leveraged positioning, which drew in over $20 million in long positions that were subsequently liquidated.

This has left XRP traders with a critical support zone to defend at $1.40, and the token's next move will likely be determined by whether buyers can hold above this level.