Crypto
XRP Price Squeeze Exceeds 10535% as Traders Bitten by Margin Calls
XRP's price plummeted to $1.38, triggering a wave of forced margin calls that caused a rare market anomaly.
According to CoinGlass, XRP's hourly liquidation imbalance exceeded 10,535%, with the volume of forcibly closed long positions surpassing short sellers' losses by over a hundredfold.
The rapid decline in XRP/USD from its daily high of $1.4150 triggered protective stop-loss orders among highly leveraged traders, leading to an instant technical storm in XRP's order book.
The underlying cause of the aggressive long squeeze was overcrowded positioning near the critical Liquidation Max Pain zone, where traders had accumulated long positions anticipating a breakout above this barrier.